Toyota's president and CEO Akio Toyoda will step aside to become chairman, while Koji Sato, who has been leading the Lexus luxury division and Toyota motor racing, will take over.
In December, Toyoda questioned whether the push for the auto industry to phase out gas-powered vehicles is the right decision.
"People involved in the auto industry are largely a silent majority," he said, according to The Wall Street Journal. "That silent majority is wondering whether EVs are really OK to have as a single option. But they think it’s the trend so they can’t speak out loudly." People look at the newly redesigned 2023 Prius hybrid unveiled by Japanese automaker Toyota prior to the start of the Los Angeles Auto Show in Los Angeles Nov. 16, 2022.
Like other automakers, Toyota recently has contended with a supply crunch in semiconductors and other parts, because of production snags caused by disruptions from the pandemic. The problem hurt Toyota, which also makes the Camry sedan and bZ4X electric car, because it could not keep up with customer demand, The Associated Press reported.
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