Toyota's Integrated Report 2023: Focus on Manufacturing
Toyota has released its Integrated Report 2023, sharing data on its product-centred management, carbon neutrality goals, mobility concepts and more.
In releasing the report, Chairman Akio Toyoda thanked Toyota’s loyal car customers around the world and its shareholders.
“We are able to go forward in spite of the many obstacles we encounter on a daily basis because of all of you,” he said.
Toyota's vision for sustainable manufacturing and BEV innovation
Toyota was founded by businessman Kiichiro Toyoda in Japan, 1937. The aim of the ‘Toyota Way’ is to remove burdens and eliminate waste - from time to materials, including the customer’s time. The Toyota philosophy of lean manufacturing has made Toyota one of the top automobile companies in the world.
Toyota has also been integrating firm ESG standards across its global business, with a focus on accelerating sustainable development, in line with its commitment to the UN’s Sustainable Development Goals. DiversityInc named Toyota North America* one of its 2023 Top 50 Companies for Diversity®, ranking 4th among more than 150 companies participating in the survey.
What we learned in the report:
Toyota’s BEVs (Battery Electric Vehicles)
Toyota discussed its plans to release next- generation BEVs in 2026, which will double driving range by using more efficient batteries, while also offering design and driving performance designed to ‘set hearts racing’.
At the same time, Toyota will transform manufacturing, changing the way it works to reduce the number of processes, shifting to autonomous inspections and unmanned transport powered by connected technology.
Carbon neutrality
Toyota aims to achieve carbon neutrality across all of its plants, by 2035. The company will also overhaul its supply chains, by working with suppliers to procure superior quality parts at lower prices.
By utilising the technological innovations in electrification, intelligence and diversification progressing, Toyota plans to work towards contributing to local communities. For example, in the US, the automotive industry is facing big challenges. Therefore, by combining worksite-honed craftsman skills with intelligence to propose new processes of manufacturing and automation, Toyota aims to give back to the US’ manufacturing sector by strengthening manufacturing in the country and solving the labour shortage problem.
Decarbonising manufacturing and the supply chain at Toyota
In response to the rising need for carbon neutrality, Toyota will continue to decarbonise its supply chain and manufacturing.
“In terms of mobility, we will offer a range of solutions under our multi-pathway strategy to provide options to our customers worldwide,” said President Koji Sato.
In order to fulfil Toyota’s mission of producing ‘happiness for all’ the company will continue to work on reducing the detrimental impact that cars can have on society, from pollution to accidents to congestion, while maximising the benefits.
“To this end, we aim to transform ourselves into a mobility company by leveraging our foundation of ‘making ever-better cars’ a desire expressed through the phrase ‘let’s change the future of cars’,” added Sato. “We are taking on multifaceted challenges based on the Toyota mobility concept, which summarises the three specific areas of our efforts - transitioning cars to mobility, expanding mobility access and synergy of mobility and infrastructure.”
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