Akio Reminisces over 13 Years Embracing Toyota's Central Beliefs Again
In a decade as chairperson of Toyota, Akio Toyoda has led the company towards a comprehensive transformation, with a vision centred on "producing happiness for all." This philosophy is evident in the company's efforts to evolve from a traditional car manufacturer into a mobility innovator.
During the global financial crisis, Akio took over as president of Toyota in 2009, when the company faced a 15% decrease in vehicle sales. Since then, he has been instrumental in steering Toyota through challenging times and ensuring unbroken profitability, even demonstrating positive guidance during the COVID-19 pandemic.
One of the key components of Toyoda's vision is the expansion into electrification and intelligence technologies. This includes battery electric vehicles, hydrogen technologies, and software development, backed by significant investments in human resources, suppliers, and dealers. The aim is to create a holistic approach to transformation that extends beyond car manufacturing.
Another crucial aspect is the building of a strong value chain earnings pillar. Toyota aims to deepen relationships with over 150 million Toyota vehicle owners globally and expand into new mobility-related businesses. This new value chain is expected to contribute substantially to the company's financial foundations and shareholder value.
Toyota is also strengthening collaborative innovation with partners outside the traditional automotive industry. Partnerships with telecommunication companies and satellite providers are being forged to develop seamless connectivity and advanced safety features powered by artificial intelligence.
Safety and societal contribution are at the heart of Toyota's innovations. Toyoda believes that cars can "move the hearts of people" and serve as a catalyst for better societies. The company's efforts are aimed not only at improving vehicles but also at leading advancements that enhance society and mobility broadly.
This transformational shift aligns with Akio Toyoda's broader philosophy of "producing happiness for all," which implies creating value for customers, stakeholders, and society at large. Although some external voices call for stronger climate action aligned with global targets, Toyota under Toyoda is advancing a multifaceted strategy that includes electrification and intelligence as pillars of the company's future.
Akio Toyoda's mission is to nurture individuals who are confident and proud of making cars, passing on the legacy of Toyota's skills and philosophy. He has expressed heartfelt gratitude to the shareholders for their understanding and backing throughout the good and difficult times.
Under Toyoda's leadership, Toyota now offers a wide variety of products that have become the preferred choice of customers around the world. The Motomachi Plant, a testament to this transformation, is underpinned by diverse members who have provided support for new projects, working tirelessly with mutual respect to deliver ever-better cars to customers as soon as possible. This philosophy of "producing happiness for all" through Toyota Production System (TPS) is evident in the efforts of the Motomachi Plant's colleagues.
With Akio Toyoda at the helm, Toyota is transforming into a mobility company, with future products and services potentially changing but still believing in a mobility future that carmakers can create. Akio, after a long struggle, expressed that Toyota has finally become confident enough to say that it makes cars, encouraging the next generation to take pride in their work as Toyota transforms into a mobility company.
In the pursuit of this holistic transformation, Akio Toyoda, as both chairperson and president of Toyota, has emphasized strategic investments in finance, particularly in electrification and intelligence technologies, to ensure a robust financial foundation for the company's future. Under his leadership, Toyota is also cultivating partnerships with non-automotive industry partners, such as telecommunication companies and satellite providers, to foster innovation and develop advanced mobility technologies.
