11:46 am, February 13, 2023
Toyota’s new chief executive has revealed his management team that he says will lead an aggressive push on EVs.
Koji Sato emphasised that ‘electrification’ is a key theme for his team and promised to develop a completely new, next-generation electric vehicle by 2026.
That’ll be a Lexus, while the company will also beef up all its EV model offerings, said Sato, who is currently Toyota’s chief branding officer.
‘Lexus will lead the move. I see myself as the captain of the soccer team,’ he told reporters at a news conference in Tokyo today.
In a presentation, Sato listed the various executives, each with different responsibilities, such as carbon neutrality, and safety technology, as well as overseeing regions such as North America and Asia.
Among them, Hiroki Nakajima, who currently oversees mid-size vehicles, was named executive vice-president for technology, and Yoichi Miyazaki, who has been overseeing business operations, was named chief financial officer.
Sato’s selection as the next chief executive was announced last month. The new leadership structure takes effect on April 1.
Toyota, which makes the Prius hybrid and Camry, has billed the move as an effort to stay abreast of social changes such as electrification.
At times, it has been seen as lagging its rivals in EVs. Its success with hybrids and hydrogen fuel cells could be partly behind that perception.
Sato, who has also overseen the Lexus luxury division and Toyota motor racing. said Toyota was intent on reducing emissions with models that are already widespread.
Most vehicles on the roads today run on petrol, he added.
Toyota officials have always said they have battery-electric vehicle (BEV) technology or pure EVs. But that market has so far been dominated by the likes of Tesla, Nissan and BYD.
‘We have been working on developing BEVs, but the perception may not have reflected that as well,’ Sato said.
The electric vehicles Toyota offers can’t be just more EVs to keep up with the times, but ‘must answer the question of what kind of EV Toyota can offer’, he said.
Sato and the other executives said the company’s entire production system must be revamped to make quality EVs.
Toyota will also make more intelligent cars that are safer and more fun, Sato said, implying that they’ll link to the internet and offer other entertainment features.
Current CEO and president Akio Toyoda, who is the grandson of the company’s founder, will becomes its chairman.
The appointments still need shareholders’ approval, scheduled for the company’s next general meeting.
Koji Sato is pictured centre with, from left, Kazuaki Shingo, Yoichi Miyazaki, Hiroki Nakajima and head of design Simon Humphries
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