Toyota postpones building battery factory, electrification strategy changes?

Video : Toyota reveals electric vehicle production line in Japan.

This move to postpone the construction of Toyota's battery factory shows a strategic adjustment in the electrification roadmap of the world's leading automaker.

Toyota had previously planned to build a plant in Fukuoka Prefecture, with the specific location expected to be announced in April. However, the plan has been pushed back to an unspecified date in the fall. Toyota had originally planned to start operating the plant in 2028, but the latest change could delay that process even further.

Recently, Toyota has officially confirmed the delay of plans to build a new battery factory for electric cars in Japan.

However, according to Nikkei Asia, Toyota is still committed to the project, but the company needs to re-evaluate the products that will be produced there. Previously, this factory was designed to produce batteries for Toyota's next-generation electric cars , including a model with a maximum operating range of up to 1,000 km.

Toyota’s revised EV production plans reflect a shift in its approach to the EV market. While global EV sales are still growing, they are not as fast as previously predicted. The gap between forecasts and reality has forced many automakers to flex their strategies.

Toyota's adjustment of plans reflects a change in its approach to the electric vehicle market.

In 2022, Toyota announced a sales target of 1.5 million electric vehicles per year, to be achieved by 2026. However, by 2023, this target was reduced to one million vehicles/year and was recently adjusted to 800,000 vehicles/year. However, Toyota has not abandoned its electrification ambitions, but is simply adjusting its roadmap to suit the volatile market situation.

In addition to adjusting its global strategy, Toyota earlier this month established a new subsidiary dedicated to the Lexus brand in China. The unit will be responsible for the development and production of electric vehicles and batteries, based in Shanghai. This is a strategic move to meet market demand and compete in the country with the world's largest electric vehicle market.

Source: https://khoahocdoisong.vn/toyota-hoan-xay-dung-nha-may-pin-chien-luoc-dien-hoa-thay-doi-post266943.html