For Toyota Motor Corp. raking in big profits from electric vehicles is as easy as 1, 2, 3.
That’s the vision from new CEO Koji Sato, who outlined a three-step strategy to “significantly enhanced” productivity and profitability by 2030 through Toyota’s coming line of electric vehicles.
“It will be a different concept from what we’ve had until now,” Sato, 53, said in an April 21 media roundtable. “In the Step 3 timing, productivity should be significantly enhanced.”
Sato, who took office April 1 with the task of speeding up the Japanese carmaker’s slow start in the global EV race, said the world’s biggest automaker is now in the first of the three EV stages.
Toyota enters the second phase around 2026. That’s when Toyota introduces a completely new EV platform and will have built up worldwide factory capacity to sell some 1.5 million EVs globally.
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