Toyota Won't Bury Its Head in the Sand Any Longer, Focuses Attention on Tesla

Even though Toyota get the crown for pioneering green energy in the automotive industry with the hybrid Prius, the Japanese manufacturer has been slow to evolve into fully electric variables.

Here's the truth, critics have called out the Japanese automaker for "stagnation tactics" in switching its models to fully electric. And in June, the manufacturer experienced a 2% drop in shares after European green activist investors (combined $300 million shares) called it out for its actions.

During its AGM in June, Toyota hit back at critics, saying it will stick to its position developing both hybrids and BEVs – a strategy that has ensured its lead when it comes to cleaner automobiles. The company added that it needed to offer varied vehicle options for different consumers and markets and that the end goal was carbon neutrality.

But there seems to be a change in plans around Toyota hallways. According to Reuters, the Japanese automaker might be considering rebooting its electric-car strategy with a bull's eye on Tesla's widespread success in the booming EV market.
According to sources close to Reuters, the automaker has halted the progress on some of its existing EV projects, including the much-awaited Toyota Compact Cruiser Crossover and the seductive new Toyota Crown SUV.

The Toyota Compact Cruiser Crossover is an all-new model that builds onto the automaker's off-roading heritage, the Land Cruiser. Think of it as a downsized electric version of FJ-Cruiser.

According to the Automaker, the Compact Cruiser EV targets young urban professionals with an appetite for outdoor adventures. The overall idea was so good it scoped the 2022 Car Design Award.

The electric Toyota Crown isn't the same luxury four-door sedan that has sold in the U.S. since 1972, but a brand new generation in a sport utility outfit – thanks to the SUV craze. Scheduled to roll out in the summer of 2023, the sedan/crossover mashup spots a generous ground clearance and two electrified variables.
If the proposal to reboot its electric-car strategy is implemented, it'll mean a dramatic shift in Toyota's battery electric vehicle rollout plan announced in December last year.

If that's not enough, the automaker has been facing other challenges, including the recent embarrassing bZ4X recall and the fact that it has been falling short of its production targets.

The reboot is aimed at the skyrocketing EV market and at industry leaders such as Tesla. But if memory serves us right, Toyota once owned a 3 percent stake in Tesla.

Still, it sold it, closing ties to jointly develop electric with the now industry-leading EV automaker in 2017. Consequently, by the time Toyota set up its first zero-emissions division, Tesla already had three models on the road.
Forgive me for dwelling in the past. In 2020, Toyota's President was quoted saying the following about the same automaker the manufacturer is now changing tact to chase down.

"Tesla says that their recipe will be the standard in the future, but what Toyota has are a real kitchen and a real chef," Akio Toyoda continued. "They aren't really making something that's real. People are just buying the recipe. We have the kitchen and chef, and we make real food."

Still, it doesn't mean their potential change could be detrimental to their overall plan. While it will severely affect its current EV rollout, a new strategy could catapult it ahead of its previous projections. And as a bonus, appease its green investors who've been tirelessly fighting the automaker's slow-paced transition into fully electric vehicles.