With one eye on Tesla, Japanese automaker Toyota is considering rewriting its $38 billion plan for electric cars and has halted some work on existing EV projects
is considering a reboot of its electric-car strategy to better compete in a booming market it has been slow to enter, and has halted some work on existing EV projects, four people with knowledge of the still-developing plans said.
As part of the review, Toyota is considering a successor to its EV-underpinning technology called e-TNGA, unveiled in 2019. That would allow Toyota to bring down costs, the people said. Toyota's planning had assumed demand for EVs would not take off for several decades, the four people said.
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