Toyota Announces Electric Vehicle Strategy To Rival General Motors
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Japanese automotive giant Toyota released details on its battery-electric vehicle strategy this week, which will see it introduce 30 EV models across its Toyota and Lexus brands globally by 2030.
During a media presentation, Toyota global president Akio Toyoda said the automaker will invest up to $70 billion globally in electrified vehicles over the coming years, which will include pure EVs, along with hybrids, plug-in hybrids and hydrogen fuel cell vehicles. Of that $70 million, approximately $35 billion will be funnelled into battery-electric vehicle programs between 2022 and 2030.
Toyota released a photo this week showing thirteen of the electrified vehicle offerings it has in the works. This includes a battery-electric mid-size truck that appears to be based on the Toyota Tacoma, a handful of Toyota and Lexus crossover models of varying size, two sports cars, a small electric mobility vehicle, an electric utility van and an autonomous pod concept similar to the Cruise Origin.
“With this expanded global BEV lineup, Toyota and Lexus will offer BEVs in all segments, including sedans, SUVs, K-Cars, commercial vehicles and other segments,” the automaker said in a press release.
Akio Toyoda also confirmed this week that his company will transition its Lexus luxury brand into an EV-only company by 2030 – mimicking General Motors’ strategy for its Cadillac brand. A number of other luxury automakers are also set to transition to an all-electric portfolio over the next decade, including Volvo and Genesis.
“Lexus buyers will have access to a wide range of vehicles dedicated to battery electrics that offer safety, security and of course, Lexus styling,” Toyota claims.
With this strategy, Toyota is looking to compete with rival mass-market automakers like GM and Ford, who are also working on a wide variety of new EV models that will launch between now and 2030.
GM previously announced a partnership with Toyota’s crosstown rival at Honda to develop new EVs, including a new battery-electric Acura crossover that may be produced at its Spring Hill Assembly plant in Tennessee.
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Toyota should make a truck out if that blue SUV thing, trucks do not have to as big as a house.
Toyota has enough problems trying to get the 22 Tundra to market, GM and FORD has nothing to worry about
Toyota is starting late but they will catch up. Interesting how they abandoned the plan they had to mostly go Hybrid.
It is not stated here but Toyota hopes to control cost by selling cars by range vs other things. They want to customer to chose the range by price. Cheaper cars will have less range and more expensive cars will have more so people can choose what fits their needs.
They feel that some people have no need for the extra capacity batteries so they will sell a smaller battery and it will cost less but have less range. Kind of like Horse power. Some people want lots others just enough.
Based on 30 cars by 2030 Toyota is about 5 years behind in full electrics. VW and GM will both have more out by 2025.
But again this is not a race so it may not hurt them as much as it could have otherwise.
that is how ridiculous the current state of ev’s are. range is driving prices. range is a luxury. that is like saying for an ICE vehicle, you pay 25% more for a bigger gas tank.
no thanks. until solid state batteries arrive, manufacturers will rely on gimmicks like crab walk and over hyped 0-60 times to push these compromised vehicles.
Steve do we not now pay more for larger more powerful engines and generally get less range due to less MPG?
Do we not pay more for trucks with second tanks or in most cases larger tanks for more range?
Look you have no real argument with this point as Batteries continue to get cheaper and range increases. Also better batteries will come.
4 wheel steer is not a gimmick if you have a truck. Crab walk is just a by product of the practical part.
I do agree on the 0-60 times. Who cares about 0-60 in 2 seconds if you can give me 100 more miles at 0-60 at 5 seconds.
yes, i guess if you have a humungous truck you need a bigger gas tank to make up for the lousy gas mileage and crabwalk for maneuvrability.
so you are right. if you have a vehicle that is basically an elephant on roller skates, crab walk might not be a gimmick.
yeah they could have models like Standard Range, Standard Range+ and Long Range. That would be very original.
That is what I believe they are planning till they learn to cut cost with new tech.
Any EV haters want to still talk how GM isn’t smart for going on EVs?, OTOH Toyota showed their cards too early IMO.
right. unless these vehicles come out in the next two years, what is the point other than public relations?
gm had no choice to jump head first into EVs. they were losing the ICE game. toyota didn’t jump head first into EVs because there were winning the ICE game.
GM was doing well but they had an opportunity to make an early move as they could afford it easily after their recovery.
Toyota to be honest chose to hold out and expected others to join but they ended up odd man out.
Now Toyota is about 5 years behind but they have money and will catch up but the key will be what GM and VW does in the next 5 years to move ahead. To they maintain the advantage or do they squander it. No one can predict this and only time will tell.
Toyota is one of the most conservative companies out there and they have so far good reliability to show for it. But they also have some of the most antiquated product. Anyone can build a reliable Tundra if you make no major changes in 20 years.
The changes here are like a reset and with he change being conservative is not a real option so It will be interesting to see how Toyota reacts. They will also miss out on partnerships others like Honda already have created with GM or Ford and VW.
The thing with this change is much more will change as time goes on. I can see Automakers moving to just being tech companies that design the cars and other entities will be the MFG like Apple does with with their computers and phones. Or they can become like Intel and design the tech and just license it.
The pubic as a whole tend to look at this 2 years ahead but the industry is looking 20 years out. They want to become part of the tech industry as that is where all the investment is while funds look for the next Apple and Tesla.
i don’t think gm was doing well. they were losing market share left and right.
not that long ago, they declared bankruptcy.
meanwhile, toyota became the most profitable auto manufacturer in the world.
Toyota lost marketshare to VW, Toyota are still on defense.
Steve GM had decades of losses and miss management. The bankruptcy was a reset and put them in pretty good shape.
As for market share losses often it was at the expense of programs that had no or low return on investment.
I am a Pontiac guy but GM needed to get down to a couple,e divisions like most other mfgs. The old plan with divisions for every niche no longer works economically. Many companies have had to take a step back to move forward.
Much of the money saved from low return models has gone into the EV program and if they manage it right it will be a spring board to a much stronger future,
GM is still dealing with a few past mistakes and of late they have been operating more like a company on the same page.
The move to EV has Cadillac for once looking like it is working on a plan that is supported internally as one vs the mixed management of the past.
They have done better than FCA that had to merge to survive. They are not like Ford still owing bank loans and a government loan for $5.9 billion. This has limited Ford on their EV programs. They have big plans but are restrained by debt.
GM and VW both faced adversity that has in the end really been beneficial to their future. If VW had not been caught fudging the Diesels they would have fallen behind with cars that would not meet most global regs.
The auto industry as a whole was struggling. Only growth in China save most. But even companies like Honda can’t afford to go with no partners. Hence them coming to GM for help.
The way automakers design, build and serve cars will change much moving forward. This is not just changing from gas to electric. It is about the entire system changing to more of a tech industry than just being a old school mfg.
Toyota has its timing right! GM is determined to be first even while the US lacks national charging infrastructure. GM comes off as desperate!
All the bugs and quirks will be worked out by the time Toyota products get to market.
GM is determined to bring product to the market once they get the prices right and the product generally acceptable.
No short cuts like the lightning.
Toyota is late to the party man, Tesla is stealing all the sales LOL.
I love those colors, most cars these days are bland greys, blues, and blacks.
Why can Toyota show it’s future vehicles but GM, with a few exceptions, can’t!?
It is easy to show concepts but what is delivered will change. What is shown here may not be what we get in 5 years.
Recall when GM was going broke. They showed cars like the Camaro 5 years out to try to give the public faith in future product. That is what Toyota is doing due to a late start.
GM is in a good place now and can let the products sell them selves moths before release.
Tesla shows product early to gather money to plow into development. The company has a lot of value but their available cash has been low. At time if not for presell money it would have not gotten the new product out even late as usual.
The ‘bigger battery’ ‘bigger price’ is NOT comparable to ICE vehicles…bigger battery = more range and when speaking of 8 to 12 hours charging time for 230 miles DOES NOT work for many consumers.
EV’s are overpriced now….if price comes down they will make great ‘second cars’. I own a BOLT as a secondary car because there was $18,000 in rebates, makes a great second car at that price!
Me personally, I’ll stick with an ICE as my primary car so when I need gas I can stop and fill up in 5 minutes and make trips however far and often I want.
Christopher
The Koreans are known for copying designs. GM and most other companies hold off on showing off their models because they don’t want their designs stolen.
Toyota gets around this by building vehicles so ugly that no one would ever want to copy their designs.
Why is it the Federal Govt colludes with GM to make EVs when we don’t want them? I’m loving my 455 hp Camaro.
J Adams is right . We don’t EVs . I love the sound of that small block Chevy kicking Toyotas , Dodges and fords asses!
The Toyota EV’s will the best ones to own by far, better quality for sure.
Chinese have the right idea. Build an ev with change out batteries. So you drive the car until the battery needs to be recharged, swap out your depleted battery for a fully charged battery at a quick change station and continue on your way. Why can’t the U.S. auto industry see this as the answer to long range driving an EV.
Why would you need to Swap out Batteries in the Future when you will be able to Charge your Car in 10 Minutes or less? Battery Swap is very Short Sighted and needed now but not in the near Future
Who cares what the rice burners make. Stupid Americans will buy Toyotas and wonder why there are no manufacturing jobs in the U.S. while they bring in shopping bugs for Target at $15.00 per hour.
Like I said years ago…..Tesla won and the Industry is shifting whether Mr. Toyoda or others wants it to or not.
All I know is that GM better not allow Toyota to beat them this time around. This is the Golden opportunity GM has been waiting for to become the Leader once again!!!