Toyota Motor Corp is expected to outline adjustments to its electric vehicle strategy to key suppliers early next year, as it races to narrow the gap on price and performance with industry leaders Tesla and BYD, two people with knowledge of the work said.
The changes, however, might include delays to some of the EV development programmes originally planned for the three-year period, one of the people said. Toyota said in a statement that it is “always actively discussing and working with key on a variety of topics,” to achieve carbon neutrality. But it said it had no new details to disclose on EV development projects.
It has suspended work on some battery-powered car projects announced last year, while a working group headed by former chief competitive officer Shigeki Terashi looks to improve cost performance and technology in the fast-growing market for EVs. Most major automakers expect EVs to account for the majority of vehicle sales by 2030, and green investors and environmental groups have pushed Toyota to move faster as industry-wide EV sales exceed Toyota's earlier assumptions.Toyota's EV strategy has focussed on the rollout of cars like the bZ4X, the first of a string of battery electric vehicles under the series name"beyond zero".
E-TNGA was designed so EVs could be built on Toyota assembly lines with gasoline cars and hybrids, a compromise that limits the automaker's ability to deliver factory-floor innovations that Toyota engineers now recognise as key to Tesla's strength.
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