Toyota to manufacture electric vehicles

Automaker Toyota recently announced that they are planning on establishing an in-house venture company that will solely be responsible for developing electric vehicles (EVs).

The venture company will be a virtual organization, consisting of 4 people – one each from Toyota Industries Corporation, Aisin Seiki Co. Ltd, Denso Corporation and TMC. The company will be independent from other internal structural organizations and will be launched in December.

The company will work on technological know-how and resources of the Toyota group to develop Electric Vehicles.

TMC has placed a special focus on fuel cell vehicles, which in terms of cruising range, fuelling times and other such aspects will aim to offer convenience that is on a par with current petrol-powered vehicles.

‘Over these past few years, which we have positioned as years for strengthening our planting of seeds for the future, we have taken such measures as establishing the Toyota Research Institute, making Daihatsu a fully owned subsidiary and beginning work to establish an internal company responsible for compact vehicles for emerging markets. The new organizational structure for EVs is a part of this effort,’ said TMC President Akio Toyoda.

‘As a venture company that will specialize in its field and embrace speed in its approach to work, it is my hope that it will serve as a pulling force for innovation in the work practises of Toyota and the Toyota Group,’ he added.