Toyota shareholders protest EV stance with votes to oust longtime leader from the board
Toyota shareholders are sending a clear message at the Japanese automaker’s annual meeting this year – it’s time to go electric. Several investors have mentioned they have voted or plan to vote to remove longtime leader Akio Toyoda from the board over the automaker’s EV stance.
Shareholders voice their opinion on Toyota’s EV stance
After Akio Toyoda, the 66-year-old grandson to the company’s founder, stepped down as CEO in January, many believed newly elected leader Koji Sato would bring the automaker into the modern era.
Toyoda has been one of the most vocal critics of going all in on EVs, insisting on sticking to a hybrid strategy despite the industry moving to an all-electric future.
Although Sato explained under his leadership the automaker would “accelerate BEV development with a new approach,” shareholders are still not thrilled with the progress.
In particular, they are pointing out Toyota’s EV stance on not setting a date to go all-electric. According to the Wall Street Journal:
Shareholders including the New York City comptrollers office, the California Public Employees’ Retirement System and several European asset managers said they have voted or plan to vote to oust several Toyota directors including Toyoda from their board seats at the meeting Wednesday.
They say their vote is a way of protesting against Toyoda’s policy of not setting a date to go all-electric like most automakers have.
Brad Lander, the NYC comptroller, explained his vote, saying, “Toyota is failing to lean, like its peers, into a timely transition to an electric fleet.” He continued to say:
We want to be persuaded that there is a transition under way and that they’ll take meaningful steps toward an all-EV commitment.
Under its newly elected leader, Toyota has made a series of announcements to help speed up the rollout. The Japanese automaker revealed it would develop a dedicated EV platform as well as introduce ten new EV models by 2026.
One of the first will be a three-row SUV, its first US-assembled electric model set for production in 2025 at Toyota’s Georgetown, Kentucky facility.
Toyota has also teased several EV concepts, including an electric family SUV (bZ FlexSpace) and a sport crossover (bZ Sport Crossover).
In addition to its first global EV, the bZ4X, Toyota released an electric sedan (bZ3) in China as it looks to keep pace in a rapidly changing market.
However, Sato has yet to set a date to go all-electric, and that’s what shareholders want to know now. When exactly will Toyota be an EV-only automaker?
Electrek’s Take
Although the chances are slim that Toyota will be removed from the board, the votes are being used as a way of protesting to push for change within the company.
While most automakers are already achieving double-digit or 100% EV sales, Toyota continues to fall further behind the pack.
Investors are realizing that Toyota is missing out on profits in key regions like the US, Europe, and China, where EV sales are soaring. With the trend only expected to accelerate, shareholders are getting sick of waiting around while Toyota continues to delay an all-electric future.
The Japanese automaker is aiming for at least 1.5 million EV sales by 2026. For comparison, Tesla produced over 440,000 EVs in the first three months of 2023, delivering over 422,000.
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First Solar just cut the ribbon on a huge new factory in Iberia Parish, Louisiana, and it dwarfs the New Orleans Superdome. The company’s $1.1 billion, fully vertically integrated facility spans 2.4 million square feet, or about 11 times the size of the stadium’s main arena.
The factory began production quietly in July, a few months ahead of schedule, and employs more than 700 people. First Solar expects that number to hit 826 by the end of the year. Once it’s fully online, the site will add 3.5 GW of annual manufacturing capacity. That brings the company’s total US footprint to 14 GW in 2026 and 17.7 GW in 2027, when its newly announced South Carolina plant is anticipated to come online.
The Louisiana plant produces First Solar’s Series 7 modules using US-made materials — glass from Illinois and Ohio, and steel from Mississippi, which is fabricated into backrails in Louisiana.
The new factory leans heavily on AI, from computer vision that spots defects on the line to deep learning tools that help technicians make real‑time adjustments.
Louisiana Governor Jeff Landry says the investment is already a win for the region, bringing in “hundreds of good-paying jobs and new opportunities for Louisiana workers and businesses.” A new economic impact analysis from the University of Louisiana at Lafayette projects that the factory will boost Iberia Parish’s GDP by 4.4% in its first full year at capacity. The average manufacturing compensation package comes in at around $90,000, more than triple the parish’s per capita income.
First Solar CEO Mark Widmar framed the new facility as a major step for US clean energy manufacturing: “By competitively producing energy technology in America with American materials, while creating American jobs, we’re demonstrating that US reindustrialization isn’t just a thesis, it’s an operating reality.”
This site joins what’s already the largest solar manufacturing and R&D footprint in the Western Hemisphere: three factories in Ohio, one in Alabama, and R&D centers in Ohio and California. Just last week, First Solar announced a new production line in Gaffney, South Carolina, to onshore more Series 6 module work. By the end of 2026, the company expects to directly employ more than 5,500 people across the US.
Read more: First Solar pours $330M into a new South Carolina solar factory
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No, it’s not the new Bolt. GM’s design team previewed a new high-riding “sporty Chevrolet EV” that should be brought to life.
Is Chevy launching a new sporty EV?
This is the all-electric vehicle Chevy should sell in the US. General Motors’ design team released a series of sketches previewing a sporty new Chevy EV.
Although it kinda looks like the new 2027 Chevy Bolt EV as a higher-sitting compact crossover SUV, the design offers a fresh take on what it should have looked like.
The new Bolt is essentially a modernized version of the outgoing EUV model with a similar compact crossover silhouette. Nissan adopted a similar style with the new 2026 LEAF as buyers continue shifting from smaller sedans and hatchbacks to crossovers and SUVs.
Will we see the sporty Chevy EV in real life? It’s not likely. For one, the “exploration sketch” is by GM China Advanced designer Charles Huang.
GM Design posted the sketches on its global social media page, but the caption read “Sporty Chevrolet EV for the China Market.”
It’s too bad. The Bolt could use a sporty sibling like an SS variant. Chevy introduced the Blazer EV SS (check out our review) for the 2026 model year, its fastest “SS” model yet. Packing up to 615 horsepower and 650 lb-ft of torque, the Chevy Blazer SS can race from 0 to 60 mph in 3.4 seconds when using Wide Open Watts (WOW) mode.
Will the Bolt be next? I wouldn’t get my hopes up. And if GM does bring the sporty Chevy EV to life, it will likely only be sold in China. Like all the fun cars these days.
What do you think of the design? Would you buy one of these in the US? Let us know your thoughts in the comments.
While deliveries of the 2027 Bolt are set to begin in early 2026, Chevy is offering some sweet deals on its current EV lineup, including up to $4,000 off in Customer Cash and 0% APR financing for 60 months.
Ready to test drive one? You can use our links below to find Chevy Equinox, Blazer, and Silverado EVs at a dealership near you.
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Podcast: Electricity is the base currency, Tesla Robotaxi crashes, new Porsche Cayenne EV, and more
In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss electricity becoming the base currency, Tesla Robotaxi crashes, the new Porsche Cayenne EV, and more.
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