Koji Sato, Toyota’s new CEO, has reportedly “dramatically” accelerated the rollout of new electric vehicles (EVs). On February 13, Sato announced a new leadership team and an EV strategy centered around a next-generation platform expected in 2026.
Investors, environmentalists, and EV enthusiasts have criticized Toyota Motor Corporation for falling behind in the global EV race.
On April 1, Sato will take Akio Toyoda’s spot as Toyota’s new CEO and focus on a three-pronged strategy that includes a new EV strategy, Woven-related software-first initiatives, and Asian carbon neutrality.
Sato pledged to continue Toyota’s diverse powertrain strategy, which includes hybrid, plug-in hybrid, and hydrogen-powered cars in addition to EVs. He said that the company is developing a new generation of EVs that better reflect its brand identity and its low-cost, efficient manufacturing capabilities.
After taking office in April, Sato said that he would reveal more details regarding the strategy. Although, reports suggest that Lexus will be at the forefront of this transition.
The luxury brand aims to sell 1 million EVs worldwide by 2030 and go fully electric by 2035. Toyota aims to sell 3.5 million EVs worldwide at the same time.
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