Part 6/8:
Struggles in Electrification
Adding to Toyota's woes is its cautious approach to electrification. While competitors such as Tesla, Hyundai, and Ford capitalize on the electric vehicle (EV) market, Toyota's own rollout of innovative EV models has stalled. The North American launch of its first-ever EV production plant has been delayed until 2026, allowing rivals to fill the void and further threatening Toyota's market share.