Toyota wants to make more than just EVs — and has plenty of company
Live MintWhen Japan played host to Group of Seven leaders last week, the country’s top auto executives formed a united front to deliver a familiar message: Let’s throw everything we’ve got at carbon emissions reduction, and not just batteries. “I think I have spoken the truth,” Toyoda said in what would be his last New Year’s greeting to staff as chief executive officer. “I said these very obvious things, and was bashed terribly.” Two weeks later, Toyoda announced he’d cede the CEO role to Koji Sato, who’d been the head of Lexus. Bloomberg spoke with the CEOs of five Japanese auto manufacturers last week about how they’ve coalesced around a consensus: A diverse set of powertrains and alternative fuels will be needed to reduce emissions for as long as battery materials are scarce and the power used to recharge EVs is still switching over to renewable sources. “It’s not like Japanese automakers want to take an easy solution, or like to go the effortless way,” CEO Masanori Katayama said.