Toyota Motor Corporation is reportedly developing a new EV-only platform to increase the competitiveness and efficiency of its electric vehicles and cut production costs. According to Asahi Shimbun, one of Japan’s largest newspapers, this decision is part of Toyota’s plan to start mass-producing EVs as it anticipates a rapid increase in consumer demand for electric vehicles amid steep gasoline price increases. The publication notes that this new strategy aims to put Toyota in direct competition with EV industry leader, Tesla.
This marks a significant shift in the company’s electrification strategy, particularly as Toyota has announced a major executive reshuffle in the management chain of command. Toyota President and CEO, Akio Toyoda, will be replaced by current Toyota COO and Lexus International President, Koji Sato, effective April 1, 2023. Akio Toyoda will continue as chairman of the board of directors as of April 1.
When Toyota developed its first high-volume production model, the bZ4X SUV, it decided to adapt its TNGA modular ICE platform for the electric SUV instead of developing an EV-only architecture. However, it now appears that the company has changed its mind and decided to design an EV-dedicated architecture from scratch. The report notes that the new platform will be flat like a skateboard and ideal for mass-producing EVs. A flat surface gives designers more choice on where to mount the batteries, compared to the bZ4X’s e-TNGA platform.
Asahi Shimbun reported that Toyota has yet to decide when the first EV based on the new platform will be released, but based on anticipated demand, it expects it will be between 2027 and 2028. In the meantime, Toyota will accelerate the production and development of electric vehicles until it completes the new EV-only platform.
