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Toyota launched its monetary outcomes for the fiscal yr ending March 31, 2023, on Wednesday, as new CEO Koji Sato took over the reins. With the market “quickly progressing,” Toyota is rising its EV investments, together with plans for a brand new devoted platform and next-gen fashions, which shall be revealed this fall.
The Japanese automaker has been arguably the most important laggard on the subject of absolutely electrical automobile know-how.
After longtime chief and grandson of the corporate’s based, Aki Toyoda, stepped down from his place earlier this yr, many believed incoming CEO Koji Sato would flip issues round.
Regardless of sticking to a hybrid technique that features hybrids and gasoline cell autos, Sato has indicated he’ll speed up Toyota’s absolutely electrical automobile tech improvement. Final month, Sato revealed his new imaginative and prescient for the corporate, together with considerably boosting EV productiveness and profitability.
These plans embody 10 new battery electrical autos (BEVs) and 1.5 million EV gross sales (as a “base quantity”) yearly by 2026.
Toyota has hinted on the concept of a devoted EV platform to spice up effectivity and streamline manufacturing, however Sato confirmed these plans Wednesday.
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Toyota confirms a devoted EV platform is within the works
Throughout Toyota’s fiscal earnings launch, Sato mentioned the automaker will make investments an extra 1 trillion yen ($7.5 billion) into EV improvement and manufacturing by the top of 2030.
Sato added:
Our new fashions scheduled for launch in 2026 shall be constructed on three new platforms: the physique and chassis, the digital platform, and the software program platform. They may all be renewed as we purpose to attain mobility by the use of a brand new automobile packaging with a rational construction that’s distinctive to BEVs.
Toyota says its devoted EV platform will double vary in future fashions with extra environment friendly batteries. The corporate additionally revealed its new in-house BEV improvement heart, “BEV Manufacturing unit,” to speed up Toyota’s EV competitiveness.
The principle goal is to reinforce the manufacturing course of to cut back prices and enhance effectivity.
Its next-gen EV, due out in 2026, is anticipated to be a glossy sporty-looking automobile with enhanced aerodynamics, primarily based on the pictures teased by Toyota.
Electrek’s Take
It appears like Toyota is recognizing the urgency to spice up competitiveness on the subject of EVs. The automaker is taking a web page from Tesla’s playbook, as many automakers are with a devoted EV platform and manufacturing effectivity.
Though Toyota is seeing an uptick in BEV gross sales in China, it’s nonetheless far behind the gang within the area and globally.
Ready till 2026 to launch its next-gen EVs should still be too lengthy, with a number of extremely anticipated fashions anticipated between from time to time.
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