Toyota to adopt ‘EV-first’ approach amidst business reshuffle
Toyota plans to use Lexus to spearhead the approach and have a fully-electric model lineup by 2030.
According to media reports, amidst the ongoing leadership changes at Toyota, the company is also said to be reshuffling its business strategy to accelerate the development of battery electric vehicles. Toyota will, going forward, take a new “EV-first” approach, starting with its luxury brand Lexus.
Akio Toyoda, the 66-year-old grandson of the company’s founder, recently announced his resignation amidst mounting pressure to accelerate EV development. Koji Sato will take over the reins from Akio Toyoda on April 1, 2023. Addressing the situation, Sato stated that Toyota is committed to making cars better and will take concrete actions, such as accelerating the shift to electrification.
The incoming company president is looking to ramp up Toyota’s EV efforts with a new approach and business structure, starting in April. Sato was previously the Chief Branding Officer at Lexus.
As per the new plans, Toyota plans to use Lexus (its luxury brand) to spearhead the approach and have a fully-electric model lineup by 2030. Toyota also plans to make more EV-specific parts, such as batteries and a dedicated platform to expand its lineup and streamline production.
Source: Read Full Article