Toyota's new president vows to step up electric vehicle push

Toyota’s new president Koji Sato has promised what he called an aggressive shift on “electrification,” while acknowledging criticism that Japan’s top automaker has fallen behind. Sato told reporters at Toyota's Tokyo headquarters that the company lags in actual volumes of electric vehicles sold, compared to its rivals, but different markets have varying powertrain needs. Toyota is a leader in hybrids, which have both a gasoline engine and electric motor, and developing nations may rely on hybrids for some time. Sato stressed that Toyota's future EVs will have special “value,” including intelligence and entertainment features, although he declined to go into specifics.