Toyota’s new CEO stated that the company plans to release “next-generation” electric vehicles under the Lexus brand by 2026. This is just one component of a new approach in the works to address issues associated with the delayed and costly EV production process.
Toyota will also expand its current EV lineup, which presently includes the bZ4X crossover SUV (which required a recall to ensure its wheels didn’t fall off) and the Subaru Solterra EV, both of which are built on Toyota’s e-TNGA flexible EV platform. Lexus’ RZ 450e SUV, which is based on the same platform, is yet to be released.
Koji Sato, currently the president of Lexus, will take over as president and CEO of Toyota on April 1st, succeeding Akio Toyoda. During a press conference on Monday, Sato stated that next-generation battery electric vehicles are the top priority and that the “timing is right” for the new team to develop EVs once they take over in April, which is when we should hear more solid details.
This comes after years of criticism for Toyota’s delayed approach to electric vehicle adoption, with the company resting on its laurels with efficient gas and hybrid vehicles while being distracted by the development of hydrogen-powered vehicles. Meanwhile, competitors, like as General Motors with Ultium, are already expanding purpose-built EV platforms throughout their product lines.
Sato stated that Toyota will take a “omnidirectional strategy,” implying that it will continue to make its hybrid business relevant with vehicles such as the recently redesigned Prius. “We want to stay in touch with customers all across the world and offer a variety of possibilities,” Sato added.
Lexus offers three electric vehicle options: hybrid, plug-in hybrid, and all-electric (referred to as Battery Electric, Battery EVs, BEVs, or simply EVs).
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