Toyota to Launch New Electric Car Company
Toyota is to establish a new in-house venture company responsible for developing electric vehicles (EVs).
Although the name has yet to be announced, the new start-up will begin life as a “virtual organisation”, consisting of just four employees. Independent from other internal structural organisations, it will be officially launched in December.
However, the quartet making up the team will have full access to the technological know-how and resources of the main Toyota brand.
Company bosses say the small structure is designed to help it implement “unconventional” work processes, which they believe will lead to accelerated development and, hence, fast-to-market products.
“Different energy and infrastructure issues around the world and the rapid strengthening of regulations aimed at increasing the use of zero emission vehicles have heightened the need for product line-ups that can respond to various situations,” says Toyota’s president, Akio Toyoda. “As such, Toyota has decided to create a structure that will allow it to commercialise EVs at an early stage, along with its promotion of fuel cell vehicles, as an alternative means of achieving zero emissions.”