When the vast majority of manufacturers went electric, Toyota preferred to stay a little behind. The Japanese giant followed a cautious approach, preferring to focus mainly on hybrid enginesa field in which he has been successful for over 20 years.
A strategy that is still paying off as it’s 2023 the company sold 11.3 million cars worldwide and achieved record profits. But 2023 was also a turning point for the brand, which for the first time began to think very seriously about its electrification strategy.
Toyota has a rather global vision
In a recent interview with Automotive News, Toyota Motor North America CEO Ted Ogawa reiterated that the brand’s approach to electric vehicles “depends on the customer’s choice”. At the same time, Ted Ogawa said that Toyota plans to increase the share of sales of electric vehicles, which was only 0.7% in 2023. How to do less at the same time?
However, Toyota estimates that by 2030, electric vehicles will make up only 30% of the US market. This number is much lower than the US Environmental Protection Agency (EPA) forecasts.
In general, America’s plans for electric cars have become more opaque in recent weeks. After protests by some American manufacturers, dealer groups and oil companies, The Biden administration is reportedly considering easing regulations on vehicle emissions. In its original proposal, the EPA required that two-thirds of new passenger cars be electric by 2032. An alternative solution that the EPA could finalize would still require more than 50% EV penetration.
Still a timid approach
But Ted Ogawa supported Toyota’s position, saying that in 2024 the brand “catch up”. Indeed, during last year’s Japan Mobility Expo, Toyota showed a series of electric conceptsincluding a sports car, a Land Cruiser and a compact SUV, some of which appear destined for production.
The Japanese manufacturer is also working hard on solid-state batteries and plans to build a seven-seat electric SUV in the US to compete with the Kia EV9. However, at the moment in Europe, the only electric Toyota on sale is the bZ4X, a model that has had a difficult start to its career.
The next electronic model to hit our roads should be small city SUV of 2025.
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Source: Auto Plus
Robert is an experienced journalist who has been covering the automobile industry for over a decade. He has a deep understanding of the latest technologies and trends in the industry and is known for his thorough and in-depth reporting.