Toyota Capitalizes on Tesla’s Missteps with New European EV Strategy
While Tesla navigates a period of brand vulnerability, the electric vehicle market continues to thrive, offering opportunities for competitors like Toyota. The Japanese automaker is strategically expanding its electric vehicle offerings, particularly in Europe, where it aims to capture niche markets, including those neglected by Tesla.
According to industry observers, Tesla’s brand has become tarnished by its CEO’s controversial actions and pronouncements. As other automakers have entered the EV market, the initial ‘wow’ factor of a new Tesla has also diminished. Some believe the Tesla brand has gradually become bland and out of touch with some consumers.
Toyota has responded by launching three new EVs in Europe, including the C-HR+, the electrified counterpart of its popular compact crossover SUV. Moreover, Toyota is teasing the FT-Me mini-car concept.
The FT-Me concept aims to address the evolving needs of city dwellers with an innovative, accessible design.
Toyota emphasizes that the FT-Me’s design takes inspiration from a jet helmet, combining contrasting black and white for a sense of safety and a lightweight, go-anywhere attitude. The FT-Me also considers functionality. The FT-Me is designed to address the evolving needs of urban dwellers and the challenges of modern urban environments. Notably, drawing from Toyota’s experience in the Paralympic Games, the FT-Me is designed to be wheelchair accessible without any aftermarket modifications. The FT-Me can even be driven by hand commands on the steering wheel and is compact enough to fit in a standard parking space.
The electric C-HR+ has a track record of strong sales and also aims to capture first-time buyers. In a similar vein, Toyota will introduce the FT-Me to appeal to first-time buyers, and, specifically, the safety-focused parents of drivers as young as 14 years old. The company is emphasizing how the vehicle’s versatility is designed to cater to diverse user needs, offering customizable options for both teenagers and professionals. A 360-degree visibility concept also emphasizes increased safety and maneuverability.
Beyond accessibility and safety, sustainability is also a key focus for Toyota. While Tesla has mainly emphasized zero emissions, Toyota is promoting cleanup of its supply chain, a sustainable ethos, and reduced carbon footprint. The FT-Me aims for a 90% carbon footprint reduction compared to other city cars by using recycled and recyclable materials and deploying a high-efficiency propulsion system. Toyota also integrates solar energy panels into the FT-Me, which can add up to 18.6 miles of range under city driving conditions.
Toyota’s move in the EV market comes as several other automakers are also expanding their electric vehicle offerings and vying for the top positions in the industry. Toyota is planning to continue the expansion of fuel cells in buses and other commercial-scale EVs. Last month, Toyota unveiled its third-generation fuel cell system, which is engineered for commercial use, and the company illustrated its fuel cell electric truck plans in a seminar, highlighting its Tri-Gen project at the Port of Los Angeles.
