Toyota’s newly appointed CEO, Koji Sato, has unveiled ambitious plans to transform the company into a dominant force in the electric vehicle (EV) market, countering fierce competition from the likes of Tesla. To achieve this goal, Toyota is considering sharing its cutting-edge battery technology with partners such as Subaru, Mazda, Suzuki, and others.
Under its future-oriented strategy, Toyota aims to sell a staggering 3.5 million EVs annually by 2030. Approximately half of these vehicles will be built on a groundbreaking EV platform set to launch in 2026. This new platform holds the potential for remarkable driving ranges of up to 932 miles (1,500 km), thanks to revolutionary battery advancements.
Toyota’s commitment to efficiency extends beyond the road. The automaker has established a dedicated unit called the BEV Factory business, focused on designing vehicle architectures that prioritize simplicity in manufacturing. By implementing innovative production techniques inspired by Tesla’s giga presses, which enable vehicles to be assembled with fewer components, and incorporating a self-propelled production line where vehicles autonomously navigate the factory floor, Toyota aims to significantly reduce EV manufacturing costs.
While the company seeks to reduce its reliance on human labor, Toyota plans to enhance the skills of its workforce, empowering employees to take on more productive roles. Furthermore, the valuable insights gained from developing new EVs will be transferred to all Toyota vehicles, irrespective of their power source.
Takero Kato, President of the BEV Factory, emphasized the broader application of these advancements, stating, “These technologies should not be limited to battery electric vehicles. Our aim is to enhance our quality and flexibility, streamlining all manufacturing and production activities through this initiative.”
To amplify its production volume, Toyota is also exploring the possibility of sharing its EV technology with partners. The company holds significant stakes in numerous firms, including Subaru, Mazda, Suzuki, Daihatsu, Hino, Isuzu, and others. Collectively, these partners currently sell an impressive 16.3 million units annually. Toyota has previously collaborated with some of these partners to develop EVs like the Toyota bZ4X/Subaru Solterra, and it has committed to providing its next-generation hybrid technology to another partner. Sharing its technology with these alliances will help distribute the costs associated with innovation, following a similar strategy to that employed by Volkswagen with its EV platforms.
Toyota’s bold vision, bolstered by its commitment to technological advancement and collaboration, positions the company as a formidable contender in the rapidly evolving EV market. With its sights set on becoming a leader in electric mobility, Toyota is poised to make significant strides towards a sustainable future.
