Toyota’s next-gen Corolla EV takes center stage as a ‘sense of crisis’ reshapes the company

This is car industry news, not a home energy story, so it doesn't affect your house or any rebate programs. But here's what happened: Toyota is developing a next-generation Corolla, the world's best-selling car, on a new platform that can be built as a fully electric vehicle, a plug-in hybrid, a regular hybrid, or a gas-only car. A Japanese TV special showed the secretive development site, and Toyota's chairman, Akio Toyoda, said there is "a considerable sense of crisis" inside the company as it tries to keep pace with Tesla and Chinese automakers like BYD.

The new Corolla will look close to the sporty concept Toyota showed last October, with a low, sports-car-like shape. Toyota's CEO says the car will be "packed with innovations" and wants it to look good regardless of what powers it. Company engineers quoted in the broadcast admitted concerns that Toyota is falling behind China on development speed and manufacturing.

The news follows Toyota's recent cancellation of the Lexus LF-ZC, a flagship electric model that was meant to debut new battery and manufacturing technology. None of this changes anything about home energy upgrades, heat pumps, or rebate programs. It is simply a sign that Toyota, still the world's largest automaker, is under pressure to speed up its shift toward electric vehicles while continuing to offer gas and hybrid options for now.