Toyota to start its own eevee company
TOYOTA Motor Corporation ( TMC) has not yet admitted to Elon Musk he was right when he called Toyota’s plans to focus on hydrogen cars “bullsh* t”, but TCM has announced plans to start an in- house venture company to develop, among others, electric vehicles from next month.
The virtual organisation will initially have only four people, one each from Toyota Industries Corporation, Aisin Seiki Co. Ltd, Denso Corporation and TMC, who will be independent of other internal structural organisations.
They will draw on the technological know- how and resources of the Toyota Group to develop evees, or electric vehicles. TMC said its small organisational structure would enable it to implement unconventional work processes, leading to accelerated project progress and, thus, fastto- market products.
When TMC dropped Musk and electric cars, it said it was because batteries will not be ready for decades. Now it said its aims “to provide the right vehicle at the right place at the right time, with a multi- angled approach to introducing environment- friendly vehicles and has developed hybrid vehicles, plug- in hybrid vehicles, fuel cell vehicles ( FCVs), EVs and others”.
Note, the special focus is still on fuel cell vehicles, because TMC were right about the batteries’ shortcomings when compared to hydrogen fueling times — in those few places where the hydrogen stations work.
TMC alludes to the problem of escaping hydrogen as “infrastructure issues around the world” and said “the rapid strengthening of regulations aimed at increasing the use of zero- emission vehicles” was what heightened its need for evees. Decyphering the corporate speak, between the lines one reads that Toyota realised there are more state subsidies for electric cars than for hydrogen and the company Toyota needs to make models that qualify. TMC president Akio Toyoda, is much more eloquent: “Over these past few years, which we have positioned as years for strengthening our planting of seeds for the future, we have taken such measures as establishing the Toyota Research Institute, made Daihatsu a fully owned subsidiary and have begun work to establish an internal company responsible for compact vehicles for emerging markets … It is my hope that it will serve as a pulling force for innovation in the work practices of Toyota and the Toyota Group.”
Toyota will establish an in- house venture company responsible for developing electric vehicles.