Behind the resignation of CEO Akyo Toyoda, grandson of the founder, there are also strategic decisions about the future of mobility. After having been a leader with hybrid cars, the Japanese group remained caged in this model, slowing down the transition to the electric market.
Tokyo () – After 14 years at the helm of the world’s largest car manufacturer, Akio Toyoda will step down as CEO of Toyota. The company made the news public a few days ago, announcing that the change of director will occur at the beginning of April. Toyoda, the great-grandson of the founder of the industrial group, will take over as chairman at the age of 66.
it will happen to you Koji Satō, 53, who currently runs Lexus, the luxury car line of the Japanese car giant. At the same time, under his supervision, Sato is also developing a hydrogen engine that can be competitive in the market.
According to the Japanese press, the succession is due to the fact that the current president has intention to retire. Toyoda stated that he believed the best thing he could do was “to take over as chairman to support the new CEO in continuing Toyota’s reform.”
However, the change in leadership comes at a very delicate time for the company, which is experiencing many difficulties in maintaining its global leadership as the global automotive market generally moves towards the transition to electric vehicles. In this sense, under the direction of Toyoda, the Japanese company lagged visibly behind its competitors and currently only has a small number of electric models in its range. “Because of my passion for cars, I am an old-fashioned person when it comes to digitalization, electric vehicles and interconnected cars,” said Toyoda, acknowledging his own limits in being hopelessly a “car man.” “. “The new team will be able to do what I can’t, so I’m stepping aside to let the youngsters start the new chapter on what the future of mobility should look like.”
Toyota was one of the car companies that first popularized hybrid cars, achieving international success. The Toyota Prius has been an emblematic model of the company for years. However, this success unintended consequences, as it caged the Nagoya-based automaker, slowing its own transition to electric technology and speeding up that of its competitors instead. In 2021, Toyota tried to make up for its delay by announcing a plan of 35,000 million dollars, but for the moment the investments they are not paying off.
The mission facing the new Director General will therefore be give a boost to the production of electric cars of Toyota, which today is not even among the top 10 car manufacturers by volume of sales in the world ranking of electrification.
