April 09, 2023 at 22:26 PM
Koji Sato, Toyota’s new CEO
[Global Market Report]At his first press conference, Toyota Motor’s new CEO Tsuneji Sato announced the first appearance of the long-awaited car electrification plan, but did not introduce specific steps on how to compete with overseas electric car rivals.
Toyota said on Friday it would introduce 10 new electric vehicles by 2026, boost annual sales of battery-electric vehicles to 1.5 million, and “strengthen hybrid and plug-in hybrid vehicles” to meet its goal of reducing carbon emissions by 2035. Commitment to halve emissions and achieve carbon neutrality by 2050.
“We have to do what we can, starting with electrification first,” Sato said in his first public appearance since becoming chief executive and president on April 1. But he has not embraced a 100% electrified future as radically as many other automakers, and several slides from Friday’s speech highlighted Toyota’s multi-pronged strategy to achieve carbon neutrality.
“I thought they would talk in general terms about Toyota’s values, production and how to improve, but it’s good to know where Toyota stands on electrification, intelligence and diversification,” said industry research analyst Tatsuo Yoshida. “They went so far as to talk about things that may have been planned and brewed but never really revealed.”