Amid new leadership changes, Toyota is reshuffling its business structure, claiming the “time is right” to accelerate battery electric vehicle (BEV) development. Toyota says it will take a new EV-first approach, starting with its luxury brand Lexus.
Last week, Electrek reported Toyota’s longtime CEO Akio Toyoda was stepping down from his position amid mounting pressure to accelerate EV development and keep up in a rapidly changing industry.
The news comes after the 66-year-old grandson to the company’s founder has been one of the most outspoken opponents of going all in on electric vehicles.
Electric car on the road. ‘We are literally driving on sunshine,’ write James and Lesley Willis. Photograph: EPA
Toyoda insisted on sticking with a hybrid approach (including fuel cell, EV, hybrid, and gas vehicles) despite the industry moving forward with zero-emissions EV technology, putting the company on track to rank as one of the world’s most obstructive companies in 2022 with oil industry leaders.
After announcing his departure, Toyoda alluded to the fact that his successor will be tasked with leading the automaker’s transformation as it enters a new mobility era.
Incoming president Koji Sato is set to take the reins on April 1, 2023. Sato addressed the situation, saying Toyota will prove it’s committed to making cars better through “concrete actions and products, such as accelerating the shift to electrification.” He added the timing is now right to accelerate EV development with a new approach.
Read more: Electrek
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