Toyota's Urgent Push to Compete in China's EV Market.

Toyota's CEO, Koji Sato, has admitted that the company needs to act urgently to keep up with the competition in China's rapidly evolving EV market. Toyota has struggled with its electric vehicle rollout thus far, only selling 0.25% of overall sales in China. The automaker aims to increase its fully electric vehicle efforts with a new business structure and strategy, including introducing ten new battery-electric models by 2026. Toyota recently unveiled plans to bolster its lineup with two new fully electric models, including an electric sport crossover and a family-focused concept.