Akio Toyoda Is Stepping Aside As CEO Of Toyota. Now What?

Akio Toyoda’s grandfather founded Toyota in 1933 when the carmaker became a subsidiary of Toyoda Automatic Loom Works. He became the chief executive officer in 2009 and announced on Thursday he will step aside as of April 1, 2023. His successor will be Koji Sato, who is currently the company’s chief branding officer while also serving as the head of the Lexus division and the company’s GAZOO race team since 2020.

“I thought the best way to further Toyota’s transformation would be for me to become chairman in support of a new president, and this has led to today’s decision. Chairman Uchiyamada has long supported me in all imaginable ways. In retrospect, these 13 years have been a period of struggling to survive one day after the next and that is my honest feeling,” he added.

In recent months, under Toyoda’s leadership, Toyota has given the impression that it has lost its compass, according toLast October, the company said it would invest $70 billion in electrified vehicles, with only half that figure going to develop pure battery-electric vehicles and the other half devoted to vehicles powered by fuel cells that operate on hydrogen.

Now they try to figure out how to build and EV and try to get their Solid State batteries working. Without solid state batteries....they are in a world of hurt!!!

Car Car Latest News, Car Car Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Toyota CEO Akio Toyoda to step aside, become chairmanToyota set up a new leadership team in what the Japanese automaker said was a move to stay abreast of social changes like electrification and becoming a wider “mobility company.”
Source: wjxt4 - 🏆 246. / 63 Read more »

Toyota CEO Akio Toyoda steps down and will become chairmanToyota CEO Akio Toyoda is stepping down from his post and becoming chairman amid questions about whether the automaker has moved quickly enough on electric vehicles.
Source: axios - 🏆 302. / 63 Read more »

Akio Toyoda set to remain a force at Toyota, even as he steps asideToyota Motor Corp chief Akio Toyoda is set to remain a dominant force inside the world's largest automaker for years to come, and will continue to influence the agenda after stepping down in April, experts and people familiar with the firm said. 💥 N pigs can fly? Yeah rite... Shitty cars. Japan can't produce anything good anymore. What is the purpose of having them on our planet?
Source: Reuters - 🏆 2. / 97 Read more »

Akio Toyoda set to remain a force at Toyota, even as he bows outToyota Motor Corp chief Akio Toyoda is set to remain a dominant force inside the world's largest automaker for years to come, and will continue to influence the agenda after stepping down in April, experts and people familiar with the firm said.
Source: Reuters - 🏆 2. / 97 Read more »