- New Toyota CEO Koji Sato yesterday said the company will start prioritizing EVs, per a report by Automotive News.
- Sato also said the Lexus luxury brand will lead the way, with a next-generation EV platform planned for around 2026.
- Toyota’s reformed strategy focuses on EVs, but it will continue to develop hybrid and hydrogen powertrains.
Toyota appears ready to turn the corner in regards to its previously lukewarm approach to mass EV adoption. That’s at least how it sounds after the company’s incoming CEO Koji Sato yesterday announced plans to start prioritizing EVs, according to a report by Automotive News.
Lexus Will Lead the Way
Along with some changes to the company’s team of decision makers, Sato revealed a three-part strategy that puts an increased focus on EVs at the very top. The CEO also tabbed Lexus to lead the charge into the new era, which notably will 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 U.S. is the bZ4X compact SUV, which the company co-developed with Subaru. That partnership is responsible for the upcoming Lexus RZ450e SUV too, representing the luxury brand’s first American EV model. However, it’s noteworthy that Toyota and Lexus have taken this long to launch fully electric vehicles, especially when many competitors have offered some for several years.
Changing 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 have said they will offer 30 EV models by 2030. That suggests 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 ascension to CEO is said to have resulted from the rising criticism Toyota has faced from investors, environmental activists, and others due to its general resistance to EV adoption under outgoing CEO Akio Toyoda.
Sato said the company’s change in direction isn’t a reaction to its competitors’ growing market share but rather it being the right time to develop the next generation of EVs with the affordability and efficiency that Toyota is known for, according to AN.The plan to accomplish 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-fueled powertrains.
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