Toyota has confirmed plans to launch an “in-house venture company” that will be responsible for developing electric vehicles. The start-up will begin work next month, and consists of just four people, each from a different branch of the Toyota group.
The Japanese marque says the small manpower of the project ought to actually result in accelerated development with fast-to-market products thanks to “unconventional work processes”, and the group will have access to the technical know-how of the entire Toyota group. 
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Toyota president Akio Toyoda said that the venture company “will embrace speed in its method to work”.
Toyota is shifting attention away from fuel-cell cars like the Mirai and onto EVs as best now they are much more viable as mainstream cars.
While fuel-cell cars and trucks offer range and fuelling times comparable with conventional cars and trucks – making them optimal eco-cars in Toyota’s mind – the lack of hydrogen infrastructure implies they cannot compete with EVs when it concerns adoption rates.
There are only eight hydrogen filling stations in the UK, compared to thousands of electric automobile charging points. However, Toyota has said it will continue to support fuel-cell cars alongside the development of its new EVs.