Toyota is expected to outline adjustments to its electric vehicle strategy to key suppliers early next year, as it races to narrow the gap on price and performance with industry leaders Tesla and BYD, two people with knowledge of the work said.
The leading Japanese automaker is expected to detail the EV plan changes 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 at ways to improve the competitiveness of EVs being planned for this decade, in part by speeding up the adoption of performance-boosting technologies for planned EVs, from electric drive systems — including motors — to the electronics that convert power from the grid to energy stored in batteries and more integrated heating and cooling systems, the people said.