• Mon. May 27th, 2024

The new Toyota will go beyond hybrid and electric cars, improving the ‘Tesla formula’

ByDerrick Rodriguez

Oct 28, 2023
The new Toyota will go beyond hybrid and electric cars, improving the 'Tesla formula'

That the Japanese want to change the discourse on electric mobility is demonstrated by the Tokyo Mobility Show. The international fair, now focused on finding solutions and alternatives to reduce transport emissions, has been the idyllic space for a change of mentality. As recognized by senior Toyota executives, “we want to move into new business areas”, all of them focused on the field of electromobility.

The goal is to introduce 30 all-new electric models before the end of this decade. A portfolio of products that we can start guessing with the latest presentations made in Tokyo. During these days we have been able to see a sports car, the Toyota FT-Se, a mid-size SUV, the Toyota FT-3e and the expected electric version of an iconic 4×4, the Toyota Land Cruiser Se Concept.

 Toyota Home Battery
Energy storage in the domestic arena can be a great source of revenue for Toyota.

Batteries and charging network to improve Toyota’s profitability.

However, no matter how much effort the Japanese put into their bZ division, they know that future sales will be lower than they are today. All manufacturers are aware of this and face a different future. They will sell fewer cars and that means losing a lot of money that must be compensated with other activities or parallel businesses. This is the strategy that Tesla has been successfully implementing for so many years. Elon Musk’s company has followed parallel business lines with its charging infrastructure or home energy management services. Toyota wants to focus on these two activities.
As InsideEVs reports, Yoichi Miyazaki, Toyota board member and executive vice president, said, “If we sell a battery electric vehicle, a charging system is required. (…) At home, the customer will want to have a charging system. Therefore, chargers will be a new product and storage batteries will be our next business. Based on that, we want to take a step into the energy sector.” Toyota wants to offer closed-loop electric management, from the charging point to the home storage battery.

The first packages were presented a few months ago.

Miyazaki elaborated on the details of the plan in response to several questions regarding the possible loss of workforce with the detriment of the production volume of electric cars. The executive made it clear that the same personnel who are now responsible for assembling the brand’s cars can also focus on other areas or functions within the company. Miyazaki’s comments were later corroborated by Hiroki Nakajima, Toyota’s chief technology officer. However, neither has provided details or specifics on how the company will implement this new strategy. Nor did they provide a timeline.

On the charging infrastructure side, the Japanese have a lot further to go. They have recently signed an agreement with their biggest rival, Tesla, to adopt the NACS system in the American territory. After signing with Toyota, the Austin-based company can freely say that they have made their charging port the standard for North America. The Japanese have made it clear that the adoption of the charging point will not be effective for all electric models of the house, but for those that are manufactured on American soil. The rest will have to use an adapter.