Toyota will outline its 3-year EV plan to narrow the price and performance gap with other automakers in the next few months.
As per Reuters, the plan will outline the adjustments the Japanese automaker will need to make with suppliers.
The plan is for Toyota to hold a suppliers convention in February to outline the plan.
This will be the first global supplier convention for Toyota since the pandemic.
According to the sources, some of these plans may include the delay of some of the EV development programmes.
The changes will be the next generation of EVs after the bZ4x and the Lexus RZ.
However, it is unclear what direction Toyota is going at the moment.
The company suspended work on EV projects announced last year and set up a working group to improve cost performance and technology.
This working group looks to be leading this 3-year EV plan and is also considering a successor to its e-TNGA platform.
As Toyota is not a big fan of leaks or previews, we will likely not see much news on the 3-year plan until the convention.
Either way, it is a big moment for the Japanese automaker, and it will certainly be something to track moving forward.
