Evolving at its own speed

1 minute read

Toyota Motor Corp. was well ahead of its time when it unveiled its game-changing Prius hybrid in 1997. But in recent years the world’s top-selling automaker caught flak for falling behind the industry’s shift to full-on electrification. Now, with a new leader in the driver’s seat, Toyota aims to catch up, and pull ahead. Koji Sato began his tenure as the company’s president in April 2023 promising an aggressive shift into electric vehicles, including 10 new EV models by 2026—up from just two today. “We have to change the future of cars to ensure that they remain a necessity for society,” Sato said. The Japanese behemoth is still partial to its original design: its multipronged “carbon neutrality” strategy focuses as much on hybrid vehicles (including plug-in options) as EVs. And as EV sales slowed in the U.S. last year, Toyota set a new global sales record, proving that in a time of transition, a diverse vehicle portfolio remains a winning strategy.

More Must-Reads from TIME

Contact us at