Toyota's European boss, Marvin Nakata, has expressed unwavering confidence in the company's future in the UK, despite growing uncertainty surrounding electric vehicle (EV) import tariffs.
While declining to unveil specific details of Toyota's upcoming strategy, Nakata affirmed the company's commitment to a "multi-path philosophy" for future success. This approach will see the launch of five new EVs by 2026, including the Urban Crossover, which has already been showcased as a concept.
Nakata navigated carefully around the EU's recent decision to increase import tariffs on Chinese-built EVs to a hefty 37.6%. While the UK government has yet to confirm its own position on this, Nakata acknowledged that the move will initially benefit Toyota by providing a "following wind".
However, he predicted that the tariffs will ultimately push Chinese companies to establish European manufacturing facilities, citing BYD's confirmed plans for sites in Hungary and Turkey.
"We will do our best to compete if this happens," he said. "It's normal competition. If their prices remain lower, we'll rely on our engineers and designers to develop even more competitive products."
To counter potential price pressure, Nakata emphasised Toyota's commitment to strengthening its brand image, drawing inspiration from Chairman Akio Toyoda's focus on innovation, driving enjoyment, and cutting-edge technology. He hinted at upcoming initiatives, stating, "We have some ideas, but we're not ready to talk about them yet."
Nakata reiterated Toyota's commitment to its core values â happiness for all, mobility for all, and leaving no one behind. This philosophy, he stated, extends directly to the company's continued production of Corolla hybrids at its Burnaston plant near Derby, a facility established 32 years ago.
"This is a key part of our ongoing contribution to UK society," he affirmed. "As a member of Toyota's management team, I want this to continue."
Toyota's determination to maintain its UK presence amidst evolving industry dynamics reflects a commitment to long-term growth and social responsibility. While specific details of the company's future plans remain under wraps, Nakata's confidence in Toyota's "multi-path philosophy" and dedication to its core values suggest a future focused on innovation, competition, and a continued commitment to the UK market.