Amid new leadership changes, Toyota is reshuffling its business structure, saying the “time is right” to accelerate the development of battery electric vehicles (BEVs). Toyota says it will take a new EV-first approach, starting with its luxury brand Lexus.
Last week, electric reported that Toyota CEO Akio Toyoda has stepped down amid mounting pressure to accelerate electric vehicle development and keep up with a rapidly changing industry.
The news comes after the 66-year-old grandson of the company’s founder has been one of the most outspoken opponents of betting on electric vehicles.
Toyoda insisted on maintaining a hybrid focus (including fuel cell, EV, hybrid, and gas vehicles) despite the industry moving forward with zero-emission EV technology, putting the company on a path to qualify as one of the most obtrusive companies in the world in 2022. with oil industry leaders.
After announcing his departure, Toyoda alluded to the fact that his successor will be tasked with leading the automaker’s transformation as it ushers in a new era of mobility.
Incoming president Koji Sato will take the reins on April 1, 2023. Sato addressed the situation, saying that Toyota will demonstrate its commitment to improving cars through “concrete actions and products, such as accelerating the shift to electrification.” He added that now is the right time to accelerate the development of electric vehicles with a new approach.
Toyota to accelerate electric vehicle development with a new approach
Sato, formerly a brand director for Lexus, says he’s looking to ramp up Toyota’s EV efforts with a new business structure and focus starting in April.
in a Press release On Monday, Toyota announced that it would implement several changes to transform the automaker into a mobility company.
First, Toyota will focus on electrification, stating that “Toyota should create cars with energy security in mind and contribute to achieving a carbon-neutral society.” sato added:
Now that the time is right, we will accelerate the development of BEV with a new approach.
Toyota plans to use its luxury brand Lexus to lead the way with a full lineup of zero-emission all-electric vehicles by 2030. In particular, the automaker plans to make EV-specific parts like batteries and a dedicated platform to optimize and help help you expand your lineup and streamline production.
Lexus just revealed pricing for its first EV, the RZ 450e, starting at $59,650 with a range of up to 220 miles.
The taking of EVM
After it was announced that Sato would take over as Toyota’s chairman, we questioned whether or not he could lift the automaker out of the past and into the modern age.
It sounds like that’s what you’re trying to achieve with the new EV-first approach. However, Sato still hinted that he would provide “various options” and kept his “multi-way” strategy without being too specific.
We’ve said it for a while now if Toyota doesn’t turn things around quickly and come on board, they will be left behind as the industry moves on without them. Many automakers are already achieving double-digit sales (or 100% EV sales), while Toyota’s zero-emissions sales accounted for less than 1% of its total US volume.
Hopefully, Sato can incorporate the new team. Otherwise, it will be a long way to go for Toyota.
