In recent years, Mr. Toyoda became known for his comments warning politicians and industry officials not to move too quickly toward electric vehicles, before consumers were ready to leave behind their gasoline-powered cars.
While other automakers in the United States, Europe and China started a sharp shift to electric vehicles, Toyota continued to invest in the hybrid cars it pioneered in the late 1990s. That frequently made Mr. Toyoda the target of criticism by environmental groups.
In January 2023, Toyota announced that a longtime Toyota engineer, Koji Sato, would take over as chief executive. Mr. Toyoda said Mr. Sato, 53 at the time, had the skills necessary to guide Toyota into a new age of electric and software-driven cars.
Shortly after Mr. Sato took over, global car market dynamics shifted. Electric vehicle sales cooled, and
demand for hybrid cars skyrocketed, generating a windfall for Toyota. Toyota posted more than 5 trillion yen ($32 billion) in operating profit for the fiscal year that ended in March, the largest ever recorded for a Japanese company.
Internally, people at Toyota said the recent earnings — and the company’s expected strong performance over the next three to four years — should be credited to Mr. Toyoda for having mapped out the electric vehicle transition.
“Akio Toyoda has been proven right,” said Jeffrey Liker, who heads the Ann Arbor, Mich., consulting firm Liker Lean Advisors and has written extensively about Toyota and its management.
Despite having stepped down as chief executive, Mr. Toyoda “may have more influence than he wants, even, by virtue of the fact that when he offers an opinion people now take it as the word of God,” Mr. Liker said.
Scource:
Toyota Investors Challenge Scion’s Grip at a ‘Critical Juncture’
Akio Toyoda ran Toyota for 14 years before handing the reins to a new C.E.O. last year, but some have grown concerned about the control he still wields.
By Akira Davis June 17, 2004
Toyota Investors Challenge Scion’s Grip at a ‘Critical Juncture’