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Toyota reworking their entire EV strategy to better compete with the Americans
Posted by member12 on 10/26/22 at 3:12 pm1236
Apparently they realized that EV's are catching on way faster than they predicted last year....and that Tesla is way ahead of them when it comes to design and production efficiency for EV's.
Toyota admits that this:
Can't compete with this:
Not in just performance, but also production costs. So...Toyota is throwing out the EV plan they unveiled just last year and starting over.
quote:
Exclusive: Toyota scrambles for EV reboot with eye on Tesla
LINK
Oct 24 (Reuters) - Toyota (7203.T) is considering a reboot of its electric-car strategy to better compete in a booming market it has been slow to enter, and has halted some work on existing EV projects, four people with knowledge of the still-developing plans said.
The proposals under review, if adopted, would amount to a dramatic shift for Toyota and rewrite the $38-billion EV rollout plan the Japanese automaker announced last year to better compete with the likes of Tesla (TSLA.O).
A working group within Toyota has been charged with outlining plans by early next year for improvements to its existing EV platform or for a new architecture, the four individuals said.
In the meantime, Toyota has suspended work on some of the 30 EV projects announced in December, which according to the sources and a document reviewed by Reuters include the Toyota Compact Cruiser crossover and the battery-electric Crown.
quote:
As part of the review, Toyota is considering a successor to its EV-underpinning technology called e-TNGA, unveiled in 2019. That would allow Toyota to bring down costs, the people said.
The first EV based on e-TNGA — the bZ4X crossover — hit the market earlier this year although its launch was marred by a recall that forced Toyota to suspend production from June. Production resumed earlier this month.
quote:
The review was triggered in part by the realisation by some Toyota engineers and executives that Toyota was losing the factory cost war to Tesla on EVs, the sources said.
Toyota's planning had assumed demand for EVs would not take off for several decades, the four people said.
Toyota designed e-TNGA so that EVs could be produced on the same assembly line with gasoline cars and hybrids. That made sense based on the assumption Toyota would need to sell about 3.5 million EVs a year – roughly one-third of its current global volume – by 2030 to stay competitive, the sources said.
But sales of EVs are growing faster. Automakers globally now forecast plans for EVs to represent more than half of total vehicle production by 2030, part of a wave of industry-wide investment that now totals $1.2 trillion.
The person leading Toyota's EV review is Shigeki Terashi, former chief competitive officer, according to six people with knowledge of the work, including two people close to Toyota. Terashi did not respond to a request for comment.
Terashi's team has been designated a "BR" or "business revolution" group within Toyota, a term used for major changes including a revamp of its development and production processes two decades ago.
"What's driving Mr Terashi's effort is the EV's faster-than-anticipated takeoff and rapid-fire adoptions of cutting-edge innovations by Tesla and others," one of the people said.
quote:
Terashi could also propose to retire e-TNGA more quickly and opt for an EV-dedicated platform engineered from the ground up. That could take roughly five years for new models, two of the sources said. "There is little time to waste," said one.
Toyota is working with suppliers and considering factory innovations to bring down costs like Tesla's Giga Press, a massive casting machine that has streamlined work in Tesla plants.
One area under review is a more comprehensive approach to an EV's thermal management - combining, for example, passenger air conditioning and electric powertrain temperature control - that Tesla has already mobilised, the sources said.
This could allow Toyota to reduce the size and weight of an EV battery pack and cut costs by thousands of dollars per vehicle, making it a "top priority" for Toyota suppliers Denso and Aisin, one of the sources familiar with the matter said. Denso (6902.T) and Aisin (7259.T) had no immediate comment.
The recognition within Toyota, the world's biggest automaker, that Tesla has set a new benchmark for EV manufacturing costs marks a major reversal.
A decade ago when Toyota took a stake in Tesla and the two collaborated to produce a battery-electric version of the RAV4, many Toyota engineers believed Tesla's technology was no threat, two of the sources said.
Toyota admits that this:
Can't compete with this:
Not in just performance, but also production costs. So...Toyota is throwing out the EV plan they unveiled just last year and starting over.
This post was edited on 10/26 at 3:15 pm
re: Toyota reworking their entire EV strategy to better compete with the AmericansPosted by PhiTiger1764 on 10/26/22 at 3:14 pm to member12
I have seen a couple of the F150 golf carts around BR. Couldn’t be me.
re: Toyota reworking their entire EV strategy to better compete with the AmericansPosted by Hangover Haven on 10/26/22 at 3:14 pm to member12
You mean they're not going along with this thing...
It's funny that the progressive totalitarians hate Elon Musk because he supports free speech. But he's done more to advance electric vehicles than any other human on earth.
cant wait for the corolla EV, equipped with a special left lane feature that allows you to drive as slow as possible in the left lane with just the push of a button.
quote:
It's funny that the progressive totalitarians hate Elon Musk because he supports free speech. But he's done more to advance electric vehicles than any other human on earth.
Almost the entire US population has an odd dichotomy of feelings toward Musk.
re: Toyota reworking their entire EV strategy to better compete with the AmericansPosted by vegas-tiger on 10/26/22 at 3:24 pm to The Egg
3rd word in article "considering", changes every part of the article you posted.
re: Toyota reworking their entire EV strategy to better compete with the AmericansPosted by Fat and Happy on 10/26/22 at 3:27 pm to member12
Toyota will probabaly come out with some extremely stupid arse looking new EV.
And people will still rush out and buy it. They don’t really need to worry about the looks. It will sell.
Shite, look at this new generation of Tundras. Shite looks like a bigger version of the El Camino and they still sell
And people will still rush out and buy it. They don’t really need to worry about the looks. It will sell.
Shite, look at this new generation of Tundras. Shite looks like a bigger version of the El Camino and they still sell
Toyota decided that EV's might actually be profitable, so they are putting some real effort into it finally.
I hope this doesn't mean they will abandon ICE vehicles the way that Ford and GM has committed to doing.
I hope this doesn't mean they will abandon ICE vehicles the way that Ford and GM has committed to doing.
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re: Toyota reworking their entire EV strategy to better compete with the AmericansPosted by whiskey over ice on 10/26/22 at 3:29 pm to member12
Am I the only one around here who doesn’t want an EV?
re: Toyota reworking their entire EV strategy to better compete with the AmericansPosted by dewster on 10/26/22 at 3:30 pm to whiskey over ice
quote:
Am I the only one around here who doesn’t want an EV?
No. Most of the ones out right now have major flaws. But that will change and they'll get more attractive.
What I have concerns with is how we are going to source all of this material for battery production, and how we are going to beef up our electrical grid to support Level 2 chargers at every home in 10-15 years.
This post was edited on 10/26 at 3:31 pm
re: Toyota reworking their entire EV strategy to better compete with the AmericansPosted by wutangfinancial on 10/26/22 at 3:36 pm to dewster
quote:
What I have concerns with is how we are going to source all of this material for battery production, and how we are going to beef up our electrical grid to support Level 2 chargers at every home in 10-15 years.
We won’t
re: Toyota reworking their entire EV strategy to better compete with the AmericansPosted by Sev09 on 10/26/22 at 3:37 pm to whiskey over ice
Hard to believe the folks that made hybrid cars mainstream (Prius) got so far behind
I saw that not too long ago. They're badly due for upgrade, especially the current front end grill design. My primary driver is my 2003 Taco Prerunner with 308,000 miles. Still runs and looks great for a 20 year old truck. I'm holding out to purchase for the 2024 models. Hopefully it's not a let down.
quote:
Apparently they realized that EV's are catching on way faster than they predicted last year....and that Tesla is way ahead of them when it comes to design and production efficiency for EV's.
The winner in the long run is going to be the car designer who can make a gasoline powered car that is large, comfortable, well made and gets 50 miles per gallon.
re: Toyota reworking their entire EV strategy to better compete with the AmericansPosted by Bjorn Cyborg on 10/26/22 at 4:00 pm to member12
Toyota got the jump on everyone with the Prius and dominated the Hybrid market for a decade.
What a complete failure to not parlay that market head start in the EV realm.
The Prius is a strong brand with the greens. Toyota should’ve made that their main EV and just call it the Prius EV.
What a complete failure to not parlay that market head start in the EV realm.
The Prius is a strong brand with the greens. Toyota should’ve made that their main EV and just call it the Prius EV.
quote:
The winner in the long run is going to be the car designer who can make a gasoline powered car that is large, comfortable, well made and gets 50 miles per gallon.
Yeah that will work perfectly when several states want to ban gasoline cars entirely.
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