Toyota’s next president at Toyota, Koji Sato announces a new management team that will lead an aggressive push on electric vehicles. Sato further states that electrification is a key theme for his team, promising a totally new, next-generation electric vehicle by 2026.
That will be a Lexus, while Toyota Motor Corp. will also beef up all its EV model offerings, Sato said. “Lexus will lead the move,” he told reporters at a news conference in Tokyo. “I see myself as the captain of the soccer team.” In a presentation, Sato listed the various executives, each with different responsibilities, such as carbon neutrality, and safety technology, as well as overseeing regions like North America and Asia.
Hiroki Nakajima, who now oversees mid-size vehicles, was named executive vice president overseeing technology. Yoichi Miyazaki, who has been overseeing business operations, was named chief financial officer. The selection of Sato, now Toyota’s chief branding officer, as the next chief executive was announced last month. The new leadership takes the helm on April 1. Toyota, which makes the Prius hybrid and Camry sedan, has billed the move as an effort to stay abreast of social changes like electrification. At times it has been seen as lagging behind its rivals in EVs.
Toyota’s journey
The company’s success with hybrids, which have both a battery and a gas engine, and hydrogen fuel cells may be partly behind that perception. Sato reiterated that view, noting that Toyota is intent on reducing emissions with models that are already widespread. Most vehicles on the roads today run on gas, he noted. Toyota officials have always said they have BEV technology, which stands for “battery electric vehicles,” or pure EVs. But that market has so far been dominated by the likes of Tesla, Japanese rival Nissan, and BYD of China. “We have been working on developing BEVs, but the perception may not have reflected that as well,” Sato said.
The electric vehicles Toyota offers can’t be just more EVs to keep up with the times, but “must answer the question of what kind of EV Toyota can offer,” he said. Sato and the other executives said the company’s entire production system must be revamped to make quality EVs. Toyota is also grappling with the high cost of batteries, although lowering costs is not a goal in itself. Toyota prides itself on its “just in time” production system. Toyota will also make more intelligent cars that are safer and more fun, Sato said, implying they will link to the net and offer other entertainment features.
