Toyota to outline the most anticipated 3-year EV strategy changes to suppliers

The leading Japanese automaker, Toyota, is expected to detail the EV plan changes by next year.

Toyota Motor Corporation, one of the world's largest automakers, stated in a recent press release that it will outline the recent changes made to its most anticipated electric vehicle (EV) strategy to key suppliers early next year, as it races to close the price and performance gap with industry leaders like Tesla and BYD.

Toyota has recently been investigating various methods to improve the competitiveness of the EVs planned for this decade. In order to speed up the adoption of performance-boosting technologies for planned EVs, from novel electric drive systems, including motors, to the electronics that convert power from the grid to energy stored in batteries and more integrated heating and cooling systems, Toyota is planning to revolutionize EVs.

By next year, the leading Japanese automaker is expected to detail the EV plan changes. The changes, however, might include certain delays to some of the EV development programmes that were originally planned for the three-year period, related sources said. Toyota stated that it is "always actively discussing and working with key (suppliers and partners) on a variety of topics" to attain carbon neutrality.