TOYOTA IS BENCHMARKING TESLA - HERE'S WHY

EV Channels Review

This video delves into Toyota's strategic shift, revealing their intention to benchmark Tesla for future vehicle development, particularly in areas like software, autonomous driving, and propulsion efficiency. The CEO of Toyota North America, Ted Ogawa, highlights a change in product cadence, emphasizing quicker updates for multimedia systems and powertrains over traditional exterior redesigns, citing the 2023 Highlander as an example. The review also touches upon Lexus's improved product strategy with more frequent model introductions and a commitment to a fully electric lineup by 2030. Significant R&D spending by Japanese automakers, especially Toyota's record nearly $10 billion, is noted, alongside production challenges due to semiconductor shortages affecting various models globally. The video concludes by examining supplier relationships, ranking Toyota and Honda as having the strongest ties, while Stellantis lags significantly. Overall, the content provides a comprehensive look at Toyota's evolving strategy and the broader industry landscape.