Toyota is planning to unveil a new, three-year electric vehicle (EV) plan which includes changes in its main supplier relationships, according to two people familiar with the matter in a report from Reuters.
The Japanese automaker will share updated EV plans through 2026. It will highlight important adjustments to some of its key suppliers, according to the sources, who requested to remain anonymous since the information is not public.
The news comes as Toyota attempts to accelerate the use of performance-enhancing technologies such as electric drive systems, motors, and electronic components, according to the people. These changes are expected to primarily supply Toyota’s successors to the bZ4X and the Lexus RZ, which were the company’s first two EVs to hit the market.
One of the sources added that the updated plans could cause delays to some of Toyota’s EV plans over the three-year period.
Tesla Model Y Stealing Sales from Toyota and Honda Vehicles the Most, Says Report https://t.co/IMVsf8yJPu
— TeslaNorth.com (@RealTeslaNorth) December 1, 2022
Toyota also plans to host a gathering of suppliers in February, which will be the first supplier convention to take place since the pandemic began.
In a statement, Toyota said it is “always actively discussing and working with key [suppliers and partners] on a variety of topics” to reach carbon neutrality.
Per a report from last July, sources said that Toyota was actively (but quietly) lobbying against EVs in Washington D.C., with some of the sources pointing toward the company’s hopes for hydrogen vehicles as a reason the hybrid-pioneering company would be opposed to battery-electric vehicles.
