Toyota (TM) to outline 3-year EV strategy changes to suppliers

Toyota Motor (NYSE: TM)
Reuters reports today, citing two people with knowledge of the situation, that Toyota (NYSE: TM) is expected to outline adjustments to its electric vehicle strategy to key suppliers early next year, as the company races to narrow the gap on price and performance with industry leaders Tesla (NASDAQ: TSLA) and BYD.

According to the unnamed sources, the automaker is expected to detail the EV plan changes through early 2026, communicating the adjustments to major suppliers. The changes might include delays to some of the EV development programs originally planned for the three-year period, one of the people said.

Toyota said in a statement that it is “always actively discussing and working with key (suppliers and partners) on a variety of topics,” to achieve carbon neutrality. But it said it had no new details to disclose on EV development projects.

Shares of TM are up 0.08% in mid-day trading on Monday.

By Michael Elkins | [email protected]

You May Also Be Interested In

• Varonis Said To Weigh Sale After Takeover Interest - Bloomberg
• SEI names Rob Wrzesniewski head of Stratos technology
• Goldman Equities Haul To Rip Past $5 Billion Toward New Record - Bloomberg