New Toyota CEO Koji Sato, who took office April 1, outlines his three-step plan to achieving 'significantly enhanced' productivity and profitability in Toyota's coming line of electric vehicles.
TOKYO – For Toyota Motor Corp. raking in big profits from electric vehicles is as easy as one, two, three.
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. The new setup being developed will enable Toyota's future EVs to double their range, thanks to more efficient battery use, and require half the investment and development resources.After reaching worldwide EV volume of 1.5 million vehicles in 2025, Toyota envisions achieving sales around 3.5 million globally by 2030 when Step 3 vehicles are in full swing.Step 1 kicked off last year with the current line of bZ-branded electric vehicles that ride on the e-TNGA platform.
The mechanical underpinnings traditionally thought of as a vehicle platform will be re-engineered to maximize performance of the EV drivetrain and the use of space and packaging. S&P Global, for example, estimates Tesla's profit margin at 20 per cent. Toyota's operating margin, robust by traditional industry standards, stands around 10 per cent.
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