Toyota EV Strategy Favors Strategic Dominance While Gas Power Drives Sales
In the electrification of the auto industry Toyota has played a key role while at the same time its execs question the all EV future.
With some 22 hybrid variants Toyota/Lexus offers more electrified vehicles than any other car maker. Yet they only have two pure EVs – the Toyota bZ4X and the Lexus RZ 450e SUVs, as well as the hydrogen fuel cell Mirai, essentially EV power produced by a low cost renewable chemical process.
In recent weeks the Toyota / Lexus strategy of hanging back on new EV models became clear when they announced a breakthrough in their solid state battery program, a sector where the company holds many key patents. Projecting market intros within 4 years, the solid state battery will allow full charges within 10 minutes and extend EV range to 900 miles.
At the same time Toyota/Lexus still powers to the top of sales charts with a full line-up of gas powered vehicles from SUVs and crossovers to large and mid-size pickup trucks and even very traditional sedans.
A recent test-drive of the latest Lexus LS 500 luxury sedan packing a 416-horsepower, twin-turbocharged 3.5-liter V-6 was exciting, civilized and nostalgic.