Incoming Toyota CEO Koji Sato plans to accelerate the Japanese automaker’s EV strategy.
Sato said Toyota needed to drastically change how it does business and called for an EV-first mindset, a change from long-time CEO Akio Toyoda’s stance on electric vehicles.
- Sato will assume the role of CEO in April, and Toyoda will transition to the role of chairman.
- Sato said he wants to accelerate the development of parts and manufacturing methods optimized for electric vehicles.
- Sato said the company would announce more details on its EV strategy after he officially assumes the role of CEO.
- Toyota is the current leader in sales of hybrid gas-electric vehicles.
- The company pioneered the technology with the debut of its Prius model in the late 1990s.
