, 2022-12-11 17:15:00,
Dec. 12 (Reuters) – Toyota Motor Corp (7203.T) It is expected to outline adjustments to its electric vehicle (EV) strategy to key suppliers early next year as it rushes to narrow the gap in price and performance with industry leaders Tesla and BYD, two people said with job knowledge.
The top Japanese automaker is expected to detail changes to the EV plan through early 2026, communicating the adjustments to major suppliers, the people said on condition of anonymity as the information is confidential.
Toyota has been looking for ways to improve the competitiveness of planned electric vehicles for this decade, in part by accelerating the adoption of technologies that increase the performance of planned electric vehicles, from electric drive systems, including motors, to the electronics that converts power from the utility grid to energy stored in batteries and more integrated heating and cooling systems, the people said.
However, the changes could include delays to some of the EV development programs originally planned for the three-year period, one of the people said.
The changes would be for successors to Toyota’s first two major-market electric vehicles, the bZ4X and Lexus RZ, and were intended to close the gap to Tesla Inc on cost and performance, the people said.
Toyota is set to convene a big supplier meeting in February, the first global supplier convention of its kind since the pandemic.
Toyota said in a statement that it “is always actively discussing and working with key (suppliers and partners) on a…
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