- New Toyota CEO Koji Sato said yesterday that the company will start prioritizing EVs, according to a report by Car news.
- Sato also said the Lexus luxury brand will lead the way, with a next-generation EV platform planned for around 2026.
- Toyota’s revamped strategy focuses on EVs, but it will continue to develop hybrid and hydrogen propulsion systems.
Toyota appears poised to turn the corner on its previously lukewarm approach to mass EV adoption. At least that’s how it sounds after the company’s incoming CEO Koji Sato announced plans to start prioritizing EVs yesterday, according to a report by Car news.
Lexus will lead the way
Along with some changes to the company’s team of decision makers, Sato unveiled a three-pronged strategy that puts a greater focus on EVs at the top. The CEO also designated Lexus to lead the charge into the new era, which will notably include the introduction of a next-generation EV platform that should arrive sometime around 2026.
Currently, the only fully electric model that Toyota sells in the US is the bZ4X compact SUV, which the company developed together with Subaru. That partnership is also responsible for the upcoming Lexus RZ450e SUV, which represents the luxury brand’s first American EV model. However, it’s worth noting that Toyota and Lexus have taken so long to introduce fully electric vehicles, especially when many competitors have offered some for several years.
Change direction
Toyota and Lexus have previously shared plans to expand their future EV lineups, specifically when both companies showed off a variety of concepts that ranged from an electric Toyota pickup truck to an electric Lexus supercar. The two brands also said they will offer 30 EV models by 2030. This suggests that the companies will combine to release 28 new electric models over the next seven years.
That ambitious goal sounds more likely now that Sato is taking control of the reins. After all, his rise to CEO is said to have stemmed from the growing criticism Toyota faced from investors, environmental activists and others over its general resistance to EV adoption under outgoing CEO Akio Toyoda.
Sato said the company’s change in direction is not a response to its competitors’ growing market share, but rather the time is right to develop the next generation of EVs with the affordability and efficiency that Toyota is known for. AN.The plan to achieve this is said to focus on new engineering and new manufacturing.
The new CEO also said that while focusing on EVs is now the top priority, the company will continue to develop hybrid, plug-in hybrid and hydrogen-powered powertrains.
