Toyota Preps Next-Gen Corolla EV Amid 'Sense of Crisis'
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- Toyota readies its next-gen Corolla on a new platform designed to support BEV, plug-in hybrid, traditional hybrid, and ICE powertrains, shown in prototype form during an NHK broadcast on July 19
- Chairman Akio Toyoda told NHK there's "a considerable sense of crisis" inside Toyota, with one engineer conceding during the broadcast, "I think we are losing to China"
- Toyota canceled the Lexus LF-ZC last month — its flagship EV that was supposed to debut with advanced new batteries and manufacturing methods
- BYD CEO Wang Chuanfu claims his company will "truly become the No. 1 automaker globally in terms of scale" within five years; BYD already overtook Ford as the sixth-largest automaker in 2025
- BYD stopped producing ICE-only vehicles in 2022 to focus on electric and plug-in hybrid models — a strategy that contrasts with Toyota's still-everything approach
- The Corolla Concept revealed at last October's Japan Mobility Show, with a low-slung silhouette and sports-car-like front end, appeared nearly identical to the prototype shown during the broadcast
Why it matters: Toyota remains the world's largest automaker but is now publicly conceding competitive anxiety while still hedging every powertrain — even after canceling its flagship Lexus LF-ZC EV. BYD, which abandoned ICE-only vehicles in 2022, has its CEO publicly projecting the No. 1 global spot within five years, putting Toyota's "good cars for every power source" strategy on a direct collision course with a faster-moving rival.
