Toyota does an about-face, and embraces EVs.
Toyota’s taken flack in the past for its stance on EVs. Despite being a pioneer of hybrid technology and selling millions of hybrids, the brand has been outright antagonistic toward EVs. Instead, Toyota has been adamant that either hybrids or hydrogen would be the real future of driving, not full EVs.
Well, not so. Toyota has a new CEO, and with that new CEO comes a new plan to invest in EVs. Toyota’s new CEO, Koji Sato, just outlined a three-step plan for Toyota to develop and sell profitable EVs.
The first step is already underway; Toyota has already launched its first few EVs under the “beyond zero” moniker. The next step will include integrating a new operating system into its vehicles. The final step will be using the self-developed operating system integrated into a new ground-up EV-focused platform. Toyota says that step three will allow the brand to speed up development cycles while unlocking new revenue streams and business models.
In theory, Toyota wants to sell software add-on services to its EVs. This isn’t unlike other manufacturers that view the path to profitability by charging for performance upgrades or other software-based features. We aren’t sure what Toyota wants to charge for, but we’ll soon find out. At the very least, step 3 of its plans should result in better, longer-range, and more efficient EVs.
Step 1 is already underway, but step 2 will start in 2026. Toyota wants to sell at least 1.5 million EVs by 2026, so watch this space.
Become an AutoGuide insider. Get the latest from the automotive world first by subscribing to our newsletter here
The post Toyota’s New CEO Focuses On EVs Via A Three-Step Plan appeared first on AutoGuide.com.