Toyota’s newly elected CEO, Koji Sato, is tasked with pulling the automaker out of the past and into the modern era. After announcing plans to introduce 10 new EV models on Friday with 1.5 million in electric vehicle sales by 2026, is the automaker doing enough?
After selling more than 10.5 million vehicles last year, Toyota maintained its position as the world’s largest automaker over Volkswagen for the third straight year.
Toyota is known for being a pioneer in hybrid technology with more than 20 years of experience since releasing the first Prius, but the automaker has struggled in shifting to fully electric, zero-emission vehicles.
Akio Toyoda, the 66-year-old grandson of the company’s founder, who was one of the most outspoken critics of going all in on EVs, announced he would step down from his position in January “to advance change at Toyota.”
The automakers underwhelming efforts toward zero-emissions EVs have resulted in one of the least developed supply chains for reducing emissions, making it the target of climate activists globally.
Toyoda has been replaced by former Lexus chief branding officer Koji Sato. With newly elected leader Sato at the helm, many believed the company could and should take a new direction before it was too late.
In February, Sato revealed he would boost Toyota’s EV efforts with plans to implement a new business structure and strategy when he took over beginning this month, claiming, “Now that the time is right, we will accelerate BEV development with a new approach.”
Toyota bZ4X (Source: Toyota)
Toyota plans 10 new EV models, 1.5 million sales by 2026
In a press release Friday, Sato revealed his vision and the new structure he aims to create for the future of Toyota.
Sato said, “We want to protect the beautiful Earth and enrich the lives of people around the world,” continuing to explain:
For the car to continue being a necessary part of society, we need to change the future of the car.
For that to happen, Toyota says it is committed to achieving carbon neutrality over the entire cycle of its vehicles, but by… 2050.
As intermittent targets, Toyota aims to reduce CO2 emissions for the vehicles it sells globally by 33% by 2030 and over 50% by 2035, with 2019 as a base.
Sato says the first thing the automaker will do is “implement electrification,” which it has the ability to do so now.
Hiroki Nakajima, executive vice president at Toyota, explained the company’s new electrification strategy, including 10 new battery electric vehicles by 2026, representing 1.5 million EV sales annually.
Toyota also hinted that a new EV platform may be in the works, after claiming its new generation of BEVs – “entirely different from those today” – will double its driving range.
To drive down costs, the Japanese automaker is taking another page from Tesla’s playbook by focusing on manufacturing efficiency with autonomous processes.
Meanwhile, Toyota is sticking to its “multi-pathway approach” including hybrids and fuel cell vehicles.
Toyota said it will increase battery efficiency in its plug-in hybrids to extend EV driving range beyond 124 miles (200 km). As for fuel cell vehicles, Toyota is pursuing mass production with a focus on commercial vehicles.
Electrek’s Take
Although 1.5 million EV sales may seem like a lot, when considering Toyota sold over 10.5 million vehicles last year, it would still represent less than 15% of total sales.
While many automakers are already achieving double-digit EV sales, or even 100%, Toyota is sticking to a modest goal yet again despite claims of going “Beyond Zero” with its bZ campaign.
Volvo, Mercedes, Jaguar, Cadillac, Rolls Royce, Alfa Romeo, and more have committed to going all-electric by 2030. Even Ford, GM, and Stellantis are targeting 50% fully electric sales by 2030.
Despite an open letter calling for Sato to change the direction (including phasing out hybrids and plug-in hybrids) of Toyota from 54 consumer and environmental groups last month, the leader has spoken.
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We knew SUPER73 had something new coming soon based on recent teasers dropped on the e-bike brand’s social media pages. But after the big unveiling of the new SUPER73 MZFT late last week, riders and fans have seemingly been left with more questions than answers regarding the new electric two-wheeler.
SUPER73 took to the Moto Beach Classic in Orange County, California, to roll out its newest model, which had already drummed up hype for an expected new platform.
The company delivered on that promise, showcasing the MZFT with its new frame and features, including multiple battery options and locking storage under the flip-up seat. While some familiar features remain, such as the rear hub motor, wide dual-sport tires, and rigid frame/fork setup, the new platform definitely looks like a novel swing at a moped-style electric bike that stays true to SUPER73’s design legacy.
But beyond the obvious Class 2 sticker on the frame – indicating a top speed of 20 mph (32 km/h) and an included throttle – SUPER73 has been tight-lipped about any other specs. The result is an unveiling that has left many scratching their heads and asking, “But what is it?”.
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Without any real sizing information, we’re left to speculate from the bike’s proportions. The bike certainly looks smaller than the large, rugged SUPER73 bikes that dominated the brand’s flagship lineup for years.
A photo with several young boys on the MZFT series seems to nail the target crowd, likely positioning the MZFT as a smaller, teen-friendly e-bike designed for the quickly growing teen boy e-bike market.
Many cities in the US are now home to groups of teenagers that ride e-bikes in packs. The trend has proven divisive, with some praising the electric two-wheelers for getting more youths outdoors and away from screens, while others bemoan the tendency for these ‘e-bike gangs’ to stray from strictly following the rules of the road.
For its part, SUPER73 has been relatively proactive with its response to criticism, focusing on ensuring its new models maintain street legal compliance and even pushing updates to older models that removed the ability to unlock higher speeds, even to the chagrin of much of the brand’s customer base.
If SUPER73 is targeting the tween boy crowd, it could be a shot at attracting those young riders before they get swayed over to Sur Rons and other non-street legal e-motos, instead drawing them into class-correct e-bikes that still invoke the fun moto-styling. One of the bikes in the image above even has two boys seated together, which would explain the apparent mounting point for additional pillion pegs on the rear chainstays of the frame (though no pillion pegs are visible in the photos or renderings).
For now, we can’t say for sure exactly what these MZFT e-bikes will be packing under the hood, and we will have to await more news from SUPER73 regarding sizing, performance, and other specs.
But whatever the MZFT turns out to be, SUPER73 says the bikes will be hitting retail stores on November 8th and will become available online by November 10th, so we should know significantly more by then.
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The average US new car price crossed the $50,000 mark for the first time in September, according to new estimates from Kelley Blue Book (KBB). Prices have been climbing steadily for over a year, and the pace picked up this summer – but that hasn’t stopped Americans from buying.
KBB says September’s record average transaction price (ATP) was partly driven by luxury models and EVs, which pushed the market into record territory. EVs made up an estimated 11.6% of all new vehicles sold last month, which is also a record high. The average EV sold for $58,124 – up 3.5% from August’s adjusted figure.
In Q3, EV sales hit another milestone: 437,487 EVs were sold in the US, giving them a 10.5% market share. That’s nearly a 30% jump from the same period last year. With government-backed EV incentives expiring at the end of September, many buyers hurried to lock in their purchases.
Year-over-year, the average EV transaction price is basically flat, down just 0.4%. Incentives averaged 15.3% of ATP in September, or about $8,900 per vehicle – slightly lower than August but higher than a year ago, when incentives averaged 13%.
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Tesla, which continues to dominate the EV market, saw an average ATP of $54,138 in September. That’s a slight dip from August and down 6.8% from a year earlier. With Tesla recently introducing the new Standard versions of the Model 3 and Model Y, KBB expects average prices across the segment to fall in the coming months. Erin Keating, executive analyst at Cox Automotive, thinks the market is “ripe for disruption.”
“It is important to remember that the new-vehicle market is inflationary. Prices go up over time, and today’s market is certainly reminding us of that,” said Keating. “The $20,000 vehicle is now mostly extinct, and many price-conscious buyers are sidelined or cruising in the used-vehicle market. Tariffs have introduced new cost pressure to the business, but the pricing story in September was mostly driven by the healthy mix of EVs and higher-end vehicles pushing the new-vehicle ATP into uncharted territory.”
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It’s official. The Genesis GV70 is about to get two new electrified options, including its first hybrid and extended-range (EREV) versions.
Two new Genesis GV70 electrified SUVs are coming soon
Genesis is turning 10, and it’s planning to go all out. Hyundai gave us a look at what’s coming last month during its CEO Investor Day.
The plans include Genesis expanding with new electrified powertrain offerings, including its first hybrid and extended-range electric vehicles.
Up until now, the luxury automaker has focused on fully electric (EV) or internal combustion engine (ICE) vehicles. By expanding into different electrified powertrains, Genesis hopes to attract new buyers to the brand while grabbing a bigger share of the luxury market.
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Genesis will launch its first hybrid in 2026, the GV80. We knew the GV70 EREV would follow shortly after, but now it’s been confirmed that a hybrid model is also set to join the lineup.
We got our first look at the Genesis GV70 EREV last week. The vehicle was parked in South Korea and appeared to be nearly identical to the current model. Aside from a tag labeling it an EREV and a massive muffler at the back, it looks about the same as the Electrified GV70.
Now, we are finally getting a glimpse of the Hybrid version. The Genesis GV70 Hybrid was also caught by HealerTV in South Korea, this time with an HEV tag.
Like the EREV, the GV70 Hybrid is still covered in camouflage, but this time, you can see the vehicle has the brand’s sport package. The optional package adds sporty exterior and interior elements, including chrome around the Crest Grille and window trim.
The Genesis Electrified GV70 (Source: Genesis)
The vehicle is still a prototype, so it could change by the time it reaches production form. However, as the reporter points out, the GV70 Hybrid could bring a unique new look to the GV70 series.
On the side of the tire, the letters “FL” are printed, which is typically shown on Hyundai vehicles set to receive a facelift.
Genesis plans to launch new luxury EVs, hybrids, and EREVs (Source: Hyundai)
Genesis is expected to launch the GV70 EREV in late 2026, followed by the Hybrid version sometime in early 2027.
According to Hyundai, the EREV will have a combined driving range of over 1,000 km (620 miles). Although it still runs on an electric motor, it will feature a small gas motor that acts as a generator to charge the battery and extend the driving range.
Genesis is betting on new electrified vehicles, including EVs, hybrids, and EREVs, to drive growth. The luxury brand aims to expand into up to 20 new European markets while gaining a bigger share of the US market. By 2030, Genesis aims to sell 350,000 vehicles.
Although it had planned to only offer fully electric vehicles from 2030, Genesis backed off on its commitment. Instead, it will use hybrids and EREVs as a bridge to an all-electric future.
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