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Toyoda has been replaced by former Lexus chief branding officer Koji Sato, who took over the reins of the world’s largest car seller this month.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.
2023 Toyota bZ4X (Source: Toyota)
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.
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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Following approval from Transport Canada, EV startup Workhorse will be bringing the W56 and W750 model electric delivery vans to commercial truck dealers in Canada as early as this spring.
“This is a major step forward for Workhorse,” says Josh Anderson, Workhorse’s chief technology officer in a press statement. “Pre-clearance from Transport Canada opens up a large new market for our products throughout Canada, including with fleets that operate across borders in North America.”
Despite that uncertainty, Workhorse execs remain upbeat. “We’re excited that our electric step vans can now reach Canadian roads and highways, providing reliable, zero-emission solutions that customers can depend on,” added Anderson.
Canadian pricing has yet to be announced.
Electrek’s Take
FedEx electric delivery vehicle; via Workhorse.
There’s no other way to say it: the Trump/Musk co-presidency is disrupting a lot of companies’ plans – and that’s especially true across North American borders. But in all this chaos and turmoil there undoubtedly lies opportunity, and it will be interesting to see who ends up on top.
The new Liebherr S1 Vision 140-ton hauler is unlike any heavy haul truck currently on the market – primarily because the giant, self-propelled, single-axle autonomous bucket doesn’t look anything like any truck you’ve ever seen.
Liebherr says its latest heavy equipment concept was born from a desire to rethink truck design with a focus only on core functions. The resulting S1 Vision is primarily just a single axle with two powerful electric motors sending power to a pair of massive airless tires designed carry loads up to 131 tonnes (just over 140 tons).
The design enables rapid maintenance, as important components easily accessible for quick servicing. Wear parts can be replaced efficiently, and the electric drive significantly reduces maintenance work. This helps to minimise downtimes and increases operational efficiency.
LIEBHERR
Because of its versatility, durability, and ability to perform zero-turn maneuvers that other equipment simply can’t, the Liebherr S1 Vision can be adapted for various applications, including earthmoving, mining, and even agriculture. There’s also a nonzero chance of this technology finding applications supporting other on-site equipment through charging or fuel delivery.
The S1 accomplishes that trick safely with the help of an automatic load leveling system that ensures maximum stability, even on bumpy or rough terrain. The company says this technology significantly reduces the risk of tipping while providing smooth and secure operation across various environments.
The HD arm of Hyundai has just released the first official images of the new, battery-electric HX19e mini excavator – the first ever production electric excavator from the global South Korean manufacturer.
The HX19e will be the first all-electric asset to enter series production at Hyundai Construction Equipment, with manufacturing set to begin this April.
The new HX19e will be offered with either a 32 kWh or 40 kWh li-ion battery pack – which, according to Hyundai, is nearly double the capacity offered by its nearest competitor (pretty sure that’s not correct –Ed.). The 40kWh battery allows for up to 6 hours and 40 minutes of continuous operation between charges, with a break time top-up on delivering full shift usability.
Those batteries send power to a 13 kW (17.5 hp) electric motor that drives an open-center hydraulic system. Hyundai claims the system delivers job site performance that is at least equal to, if not better than, that of its diesel-powered HX19A mini excavator.
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To that end, the Hyundai XH19e offers the same 16 kN bucket breakout force and a slightly higher 9.4 kN (just over 2100 lb-ft) dipper arm breakout force. The maximum digging depth is 7.6 feet, and the maximum digging reach is 12.9 feet. Hyundai will offer the new electric excavator with just four selectable options:
enclosed cab vs. open canopy
32 or 40 kWh battery capacity
All HX19es will ship with a high standard specification that includes safety valves on the main boom, dipper arm, and dozer blade hydraulic cylinders, as well as two-way auxiliary hydraulic piping allows the machine to be used with a range of commercially available implements. The hydraulics needed to operate a quick coupler, LED booms lights, rotating beacons, an MP3 radio with USB connectivity, and an operator’s seat with mechanical suspension are also standard.
HX19e electric mini excavator; via Hyundai Construction Equipment.
The ability to operate indoors, underground, or in environments like zoos and hospitals were keeping noise levels down is of critical importance to the success of an operation makes electric equipment assets like these coming from Hyundai a must-have for fleet operators and construction crews that hope to remain competitive in the face of ever-increasing noise regulations. The fact that these are cleaner, safer, and cheaper to operate is just icing on that cake.