At a one-hour press conference revealing the appointment of Kenta Kon as Toyota’s chief executive last week, not one word was said about an existential threat to Japan’s auto industry: electric vehicles.
The replacement of car-loving engineer Koji Sato with the chief financial officer has focused attention on how the world’s largest car manufacturer plans to deal with the rise of EVs in an increasingly turbulent global environment.
Kon, a former secretary of Toyota chair Akio Toyoda who is viewed as a temporary steward, vowed to eliminate “any wasteful penny” to withstand tariffs and rising competition. He said he would create the foundation for “courageous and bold decisions” as digitisation and electrification reshape the industry.
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