Revving up the electric vehicle business is the first priority for Koji Sato as the new chief executive of Toyota Motor Corp. strives to sharpen its competitive advantage as the world's No. 1 automaker.
Toyota Motor Corp.'s surprise announcement of a change in its top management came as CEO Akio Toyoda, the grandson of the founder, picked an executive more than 10 years younger than him as his successor at a time when the global auto industry faces a once-in-a-century paradigm shift driven by decarbonization and digitization.
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