Toyota To Release 10 New EV: Nikkei Asia reports that Koji Sato, the new president and CEO of Toyota Motor, delivered his first public speech during a live-streamed news conference on Friday afternoon.
Vice-President Hiroki Nakajima stated that the business would introduce 10 new electric vehicle (EV) models by the year 2026, translating to an annual sales volume of roughly 1.5 million vehicles.
In his speech, Toyota Motor’s president and CEO vowed to pursue electrification “practically,” tailoring the automaker’s product lineup to the needs of various geographic areas.
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The leading automaker in the world has been underwhelming in the quickly changing market, particularly in sales of electric vehicles.
According to Nikkei Asia, Toyota’s newly reorganized management has the urgent goal of accelerating development in the area as up-and-coming competitors like Tesla of the US and BYD of China threaten to dominate the quickly developing market.
According to Vice President Hiroki Nakajima, Toyota will also establish a specialized division to develop next-generation EVs, headed by a single individual with “full authority” and in control of everything from development and production to business.
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He stated that the unit’s leader has already been chosen and that additional information will probably be released in May.
S & P Global Mobility data show that Toyota sold 21,650 battery-powered vehicles in 2022, accounting for just a 0.3 percent market share. According to Nikkei Asia, it is well behind top seller Tesla’s 1.27 million units and second-place BYD’s 810,600 units.
Although it hopes to sell 3.5 million units by 2030, the bz4X, the company’s first mass-produced battery-powered vehicle, has been recalled for the past year.
