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EV strategy

TOYOTA is considering a reboot of its electric-car strategy to better compete in a booming market it has been slow to enter, and has halted some work on existing EV projects, four people with knowledge of the developing plans said.

The proposals, if adopted, would amount to a dramatic shift for Toyota and rewrite the $38 billion (R700bn) EV roll-out plan it announced last year.

A working group has been charged with outlining plans by early next year to improve its existing EV platform or for a new architecture. Toyota has also halted work on some of the 30 EV projects it announced in December. |