Toyota CEO admits it will need to act urgently to keep up in the Chinese EV market

Published

2 years ago

April 21, 2023

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After revealing a slew of new fully electric vehicles aimed at reconnecting with its customer base in China, Toyota’s recently appointed CEO, Koji Sato, says more needs to be done to keep up with the competition.

Anyone following the rise of electric vehicles over the past several years knows Toyota has arguably been the biggest laggard.

After the 66-year-old grandson to the company’s founder, Akio Toyoda, stepped down as CEO in January – one of the most prominent critics of going all in on EVs – many believed the company would change its mindset.

Toyoda has been replaced by former Lexus chief branding officer Koji Sato, who took over the reins of the world’s largest car seller this month.

Sato explained in February under his leadership, Toyota would increase fully electric vehicle efforts with a new business structure and strategy. He added:

Now that the time is right, we will accelerate BEV development with a new approach.

The new strategy includes introducing ten new battery-electric models by 2026, allowing for 1.5 million EV sales annually.

With this in mind, Toyota has struggled with its electric vehicle rollout thus far as it continues to lose market share in key regions. In China, the fastest-growing EV market, Toyota only sold 3,844 units through January, representing a dismal 0.25% of overall sales.

Toyota aims to keep up in China’s expanding EV market

Toyota slashed prices on its first EV introduced in China (and globally), the bZ4X, by up to 15% earlier this year to remain competitive.

The move came after market leaders like Tesla and BYD cut prices in the region, leading to several EV manufacturers following suit in order to keep up.

More recently, Toyota has seen some traction in China. The automaker unveiled its first electric sedan, the bZ3, co-developed with BYD, in October, which generated over 5,000 orders on its first sales day.

Toyota introduced plans to bolster its lineup with two new fully electric models earlier this week.

The first is an electric sport crossover, deemed the bZ Sport Crossover, designed to attract younger and Gen Z buyers in China. It’s second, the bZ FlexSpace concept is designed with families in mind with a focus on utility and ease of use.

During an interview with the media in Tokyo Friday, Sato admitted the automaker must act urgently if it wants to keep up in China’s rapidly evolving EV market, according to Reuters. He said:

We need to increase our speed and efforts to firmly meet the customer expectations in the Chinese market.

Sato added after seeing the impact at the Shanghai Auto Show, he sees China becoming “an advanced market for EVs.”

Although Sato acknowledged the company was producing a small number of EVs compared to other automakers in China, he said it would take a phased approach.

The first step includes improving battery electric vehicle tech and then ramping up production.

Electrek’s Take

Toyota’s urgency to remain competitive in China’s EV market comes after the automaker saw its first sales decline in the country last year in over a decade.

Although Japanese automakers, led by Toyota, account for nearly 20% of the overall Chinese auto market, they represent less than 0.35% of EVs.

China is moving quickly toward fully electric vehicles. Meanwhile, Toyota has been behind the ball. And it’s not only in China. Toyota only sold 24,466 EVs total globally last year, accounting for just 0.25% of its 9.5 million vehicle overall sales.

While Sato insists on taking a phased approach, EV startups and legacy automakers in the region like BYD, Tesla, NIO, XPeng, Geely, and others continue taking market share.

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Environment

Volkswagen’s new electric SUV looks like a major upgrade, but there’s a catch

Published

5 hours ago

August 18, 2025

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Volkswagen's new electric SUV looks like a major upgrade, but there's a catch

With an expected debut in less than a month, we are finally getting our first look at the new Volkswagen T-Roc. Volkswagen’s popular SUV is going electric, but it will be the first to use a unique new Toyota-like powertrain. Here’s what to expect.

Volkswagen’s new SUV to debut as an EV, HEV, or both

The T-Roc was Volkswagen’s second most popular SUV globally last year, following the Tiguan. VW confirmed earlier this year that the “new generation of the T-Roc arrives in 2025,” and now we are finally getting our first glimpse of it.

Volkswagen previewed the new T-Roc for the first time on Monday, revealing its sleek new design that almost looks like a Porsche from the side.

According to Autocar, the second-gen T-Roc will be the first to use Volkswagen’s new full-hybrid powertrain. Like the Toyota Prius, it will utilize a gas engine and an electric motor, which can operate simultaneously.

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It will be the brand’s first production vehicle to feature the new powertrain. CEO Thomas Schäfer explained that VW is “experimenting now because certain regions are gliding into HEVs.”

Although we know Volkswagen’s new EV SUV is set to launch globally, including Europe and South America, will it arrive in the US? It’s a possibility. Schäfer added, “Interestingly enough, HEV has also become a big theme in the US specifically.”

Several automakers are shifting to hybrids in the US as “a bridge” to fully electric vehicles, including Ford, Honda, and Toyota.

Volkswagen’s chief said the company will “see where it makes sense” to add more hybrids to its lineup, adding “we’re not going to double everything up; we will have PHEV and HEV models.”

The hybrid system will not be featured on every new model based on the platform, a VW official told Autocar, but it will be used for the new-generation Golf and Tiguan models.

Volkswagen is expected to unveil the new T-Roc at the Munich Motor Show in Germany, starting on September 9. We will also likely get our first official look at the upcoming ID.2X SUV (previewed above). More details, including full powertrain specs and pricing, will be revealed closer to launch.

What do you think of the new design?

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Environment

XCMG XCS65K: it takes big machines to build big battery projects [video]

Published

6 hours ago

August 18, 2025

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XCMG XCS65K: it takes big machines to build big battery projects [video]

XCMG launches 65-tonne reach stacker for energy storage projects

The heavy equipment experts at XCMG have launched what they’re calling a “world’s first” 70 ton reach stacker designed specifically to support the construction of large, utility-scale battery energy storage system (BESS) projects.

Battery energy density is getting better, but that just means more kWh per lb. of battery. Batteries are still incredibly heavy, and the massive BESS projects that help support the grid, create a market for second life EV batteries, and create a market for excess renewable energy that would otherwise be curtailed require the precise and controlled placement of thousands of tons of batteries. The problem is that, while heavy equipment assets like telehandlers and excavators can get the job done, they aren’t built for that sort of work. That’s inefficient – and, with more than $100 billion worth of BESS projects set to come online in just the next five years, that’s a lot of room for process improvement.

The new XCMG XCS65K 65 tonne (70 ton, in imperial units) reach stacker is specifically designed to meet the logistics needs of large- and utility-scale storage projects, combining precise controls, specialized implements, and five-layer stacking capacity with advanced safety technologies to offer construction fleets a serious upgrade.

“The XCMG XCS65K is not just an upgrade; it’s the core driver of efficient delivery in large-scale energy storage projects,” explains Miao Fei, Deputy General Manager of XCMG Port Machinery. “With its unparalleled lifting capacity and precision, we’re solving the industry’s most challenging logistics challenges.”

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XCMG XCS65K features a high-precision micro motion system that provides millimeter-precise load control, an AI-powered anti-roll technology that instantly adjusts to varying load conditions, 360 degree panoramic imaging, and intelligent braking, ensuring safe operation in complex working environments, keeping the human workers in and around the machine safe, too.

The XCS65K received Chinese certification in April, and is now available globally. XCMG reports that customers have already reported significant improvements in operating efficiencies and turnaround times since deploying the new reach stacker.

Electrek’s Take

[embedded content]

China-based XCMG gained popularity (on this site, at least) because of its deployment of battery-swap technology in heavy equipment like dozers, haul trucks, and the XE215 excavator. These quiet, vibration-free electric equipment assets are moving thousands of tons of dirt every day, proving that HDEVs can get the job done, on and off highway – and now, they’re helping reinforce the electrical grid, too.

SOURCE | IMAGES: XCMG, via Makina Market.

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Google, Kairos Power plan advanced nuclear plant for Tennessee Valley Authority grid by 2030

Published

7 hours ago

August 18, 2025

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Google, Kairos Power plan advanced nuclear plant for Tennessee Valley Authority grid by 2030

Lenoir City, Tennessee, Electrical transmission equipment at the Fort Loudoun Dam, operated by the Tennessee Valley Authority.

Jim West | UCG | Universal Images Group | Getty Images

Alphabet’s Google and Kairos Power will deploy an advanced nuclear plant connected to the Tennessee Valley Authority’s electric grid by 2030, the companies announced Monday.

TVA has agreed to purchase up to 50 megawatts of power from Kairos’ Hermes 2 reactor. It is the first utility in the U.S. to sign a power purchase agreement with an advanced reactor like Hermes 2, according to the companies.

Hermes 2 is the first deployment under an agreement that Google and Kairos signed last year to launch the startup’s nuclear technology at a commercial scale. The reactor’s output is the equivalent of the consumption of about 36,000 homes. The electricity will help power Google’s data centers in Montgomery County, Tennessee, and Jackson County, Alabama.

Google, Kairos and TVA said their collaboration will move the U.S. a step closer to deploying advanced nuclear reactors by making sure consumers are not on the hook for the cost of building the plant.

Kairos and Google will bear the financial risk associated with building the first-of-a-kind project, the companies said. TVA, meanwhile, is providing the revenue stream the plant will need to operate through the power purchase agreement.

“We think this solves the problem of making sure that consumers don’t carry that first-of-a-kind cost and risk,” TVA CEO Don Moul told CNBC. “But it also allows innovators like Kairos Power and thought leaders like Google to bring this to market.”

Hermes 2 is expected to start operating at Oak Ridge, Tennessee, in 2030. Kairos received a construction permit for the reactor from the Nuclear Regulatory Commission in November 2024. It will need to apply for an operating license with the NRC before the plant can start operations.

TVA declined to disclose how much it will pay for electricity from Hermes 2 when asked by CNBC. Kairos declined to disclose the estimated cost of the plant.

Building nuclear again

The U.S. has basically stopped building nuclear plants due to the huge cost overruns and delays that plague the industry. The last two reactors built in the U.S. at Plant Vogtle in Georgia cost $18 billion more than expected and started operations seven years behind schedule in 2023 and 2024. The project’s problems contributed to the bankruptcy of industry stalwart Westinghouse.

Startups like Kairos believe their smaller plants will prove to be faster and more affordable to build than large reactors like those at Vogtle, helping to usher in a new era of nuclear construction in the U.S. Despite these promises, utilities have been reluctant to commit to small advanced reactors over concerns about the initial price tag.

Technology companies like Google, meanwhile, are investing in advanced nuclear because they want reliable, carbon-free power to meet the demand from artificial intelligence while adhering to their environmental goals. Google has placed orders with Kairos for reactors totaling 500 megawatts of power that are targeted to come online through 2035.

Rebar is placed at the Kairos Power Hermes foundation.

Courtesy: Kairos Power

“We specifically want to help commercialize,” Amanda Peterson Corio, Google’s global head of data center energy, told CNBC. “We want to see how can we take this from something small to something bigger that we can deploy at scale. That’s really what the Hermes 2 project is doing.”

One of Kairos’ goals with Hermes 2 is to create a standardized reactor design which will help cut the cost of future deployments, CEO Mike Laufer told CNBC. Kairos will also develop the supply and manufacturing infrastructure needed to launch at scale through the construction of Hermes 2, he said.

“We’d be ready to deploy multiple reactors in series at the same sites in a very cost-efficient way to deliver that power at affordable rates in the not too distant future,” Laufer said. Kairos and Google are exploring options on where future plants will be deployed, he said.

Oak Ridge, TVA nuke hub

Kairos’ technology is different than the reactors currently operating in the U.S. Its reactor design uses liquid salt as the coolant rather than light water, which allows the plant to operate at near atmospheric pressure. This means Kairos can use thinner and less expensive materials because the reactor is not under high pressure. Operating at low pressure also has safety advantages.

The 50-megawatt plant is also much smaller than the reactors in the current U.S. fleet that average 1,000 megawatts in output, which is enough to power an entire city. The Kairos reactor will increase its output to 75 megawatts when it launches on a commercial scale, Laufer said.

Hermes 2 will be deployed near Oak Ridge National Laboratory, which has a long history in nuclear science dating back to the Manhattan Project during World War II. TVA was established by Congress during the Great Depression as a public corporation to electrify the region. The utility remains owned by the federal government.

“This kind of sets the stage for east Tennessee to really be what we see as a regional hub for innovation for nuclear construction and operation, and that’s going to be valuable for the nation as well,” Laufer said.