Toyota Motor Corp.’s new CEO stated that introducing new EV-optimized components and production methods would accelerate the automaker’s push into electric vehicles.
Toyota will build innovative EVs for its luxury Lexus brand by 2026, with everything in those models customized for EVs, including the battery and manufacturing platform, according to Koji Sato at a press conference on Monday.
New techniques for EV production
Mr. Sato, 53, is set to take over as CEO in April, succeeding longtime leader Akio Toyoda.
The newly appointed CEO of Toyota Motor Corp. stated that one of his goals was to expedite the automaker’s transition into the production of electric vehicles by introducing new manufacturing techniques and components optimized for use in EVs.
Koji Sato, general manager of Toyota Motor Corporation, stated on Monday during a briefing that the company plans to develop new electric vehicles (EVs) for its luxury Lexus brand by 2026.
Every component of these new models, including the battery and the manufacturing platform, will be optimized for EVs.
More significant investments for Toyota
In April, Mr. Sato, who is currently 53, will succeed Akio Toyoda, who has held the position of chief executive officer for a considerable time.
But before Toyota made its first change in leadership in more than 13 years, the automaker had been mulling over the possibility of adjusting its electric vehicle strategy.
It was determined that making a more significant initial investment in developing electric vehicle (EV) dedicated parts and manufacturing methods was the best way to increase the scale and profitability of the company’s EV business.
We’ve seen the kind of EVs we are aiming for,
now that the timing is right, we will accelerate that development with a new approach
Mr. Sato stated on new strategies for Toyota EV
