Toyota may soon introduce its first electric vehicle-only platform, as the Japanese automaker is reportedly developing one to accelerate its EV production efforts. The news originally emerged from Japan‘s major news platform Asahi Shimbun.
Toyota fell behind Auto majors in offering EVs
Toyota, which is at risk of falling behind its rivals in the EV industry, now aims to accelerate its electrification efforts. Per the report, the automaker aims to boost its EVs’ competitiveness and efficiency. This new platform is also expected to cut the automaker’s production costs.
Unlike Toyota’s current e-TNGA platform, the new structure would be flat as the automaker does not intend to directly put an engine or battery on it. Compared to the e-TNGA platform of the bZ4X, a flat surface allows designers more options for where to install the batteries. That said, it will be more suitable for mass production, which also reduces costs.
Apparently, this move is crucial to Toyota’s plan to ramp up EV production to prepare for the anticipated surge in demand, given the rising gas price. Furthermore, the report also claims that Toyota aims to compete with the leading electric maker Tesla.
Leadership changes in Toyota
The new EV-only platform’s development would signify a remarkable leap in Toyota’s electrification efforts.
However, another interesting news that marks another leap for the automaker is the changes in its management. Toyota announced on January 26 that its former Toyota President/CEO Akio Toyoda is stepping down. Nonetheless, the Toyota founder’s grandson will remain chairman of the board of directors.
“To advance change at Toyota, I have reached the decision that it is best for me to support a new president while I become chairman.”
Toyota President/CEO Akio Toyoda
Former CEO Toyoda will pass the position to Toyota COO and Lexus International President Koji Sato. He believes his COO can “promote change in an era in which the future is unpredictable.”
Amid Toyota’s intense electrification efforts, Koji Sato is set to claim the highest position on April 1, 2023.
“We would like to demonstrate this commitment [to make cars better] through concrete actions and products, such as accelerating the shift to electrification and engaging in car-making that responds to diverse values and local needs.”
Toyota COO and Lexus International President Koji Sato
It is worth remembering that former CEO Toyoda has been one of the most vocal EV opponents while the rest of the industry is heading toward EVs. His persistent hybrid approach caused the company to be listed among oil tycoons like ExxonMobil as one of the world’s most “obstructive” businesses.
Meanwhile, Toyota’s first EV offering, the bZ4X, also faced safety issues, leading to its recall. After ensuring the issues about the wheels that could detach while driving was fixed, the sales resumed in October last year. However, Toyota is still behind its rivals in the EV industry, with just less than 1% of total US ZEV sales.
Unfortunately, there are no specific details about the development of the new platform. However, the anticipated surge in demand suggests that it will occur between 2027 and 2028, per the publication.
Indeed, Toyota would be better able to optimize production and thrive in the rapidly growing EV industry with a new dedicated EV platform. The change in management may also aid the automaker in looking at a different perspective away from its former hybrid approach.
