Toyota’s New CEO to Ramp Up EV Strategy

SOURCE: Inside EVs

Toyota’s new CEO, Koji Sato, has pledged to “drastically” accelerate the rollout of new electric vehicles as part of his goal to reinvent the world’s largest automaker as a mobility company.

While unveiling a new leadership team on February 13, Sato said the EV offensive would center around a next-generation platform, which is expected to arrive around 2026.

The announcement comes as Toyota Motor Corporation is being criticized by investors, environmental activists and EV enthusiasts for falling behind in the global EV race.

Sato said he is prioritizing a three-pronged strategy after he takes over from Akio Toyoda as CEO on April 1. The priorities will be to ramp up the carmaker’s EV strategy, strengthen its Woven-related software-first initiatives, and focus on achieving carbon neutrality in Asia.

That said, Sato pledged Toyota would stick with the diverse powertrain strategy pioneered by his predecessor, in which the automaker continues to develop hybrid, plug-in hybrid and hydrogen-powered cars in addition to pursuing EVs.

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