Toyota says it must build must a new business model to cope up with the sudden and drastic changes in the business environment. The company will follow Volkswagen Group’s strategy of using common platform, parts and powertrain components for maximum possible vehicles. The Japanese automaker aims to reduce resources required for development by 20% or more. It will work even closer with suppliers to reduce cost and reinvest the resulting saved sources into developing better technologies and improving product appeal.
As per a new press release, Toyota is focusing on joint development of platforms and powertrains together, on making components compact and lighter and on developing a parent design language that can be shared by all of its vehicles, through modularisation. The concept of modularisation is used for reducing the complexity and simplyfing the development process, and the Volkswagen Group is an exemplar of the same.
New Toyota vehicles in the future are most likely to be based on the shared platforms and share common parts, powertrain components and a unified design language. The company expects that approximately half of its vehicles sold worldwide by 2020 to feature the new platforms which will be rolled-out beginning with the launch of a midsize front-wheel driven vehicle this year followed by other new platforms for front-wheel drive compact and large vehicles, as well as for rear-wheel drive vehicles.
The company wants to make its plants more competitive with reduction in required levels of initial investment. It aims to halve the capital investment required (compared to 2008) to prepare production line for a new model.