Toyota Changing EV Strategy in Bid to Catch Tesla: Report. It’s Way Behind.

Toyota Motor


has been slow to develop all-battery electric models. Now it wants to pick up the pace, as it tries to keep pace with


Tesla


and other EV makers, and suppliers will be key to its efforts.

Sunday, Reuters reported that auto company Toyota (ticker: TM) will outline its changing EV strategy to its supplier base in an effort to improve its offerings relative to EV leaders Tesla (TSLA) and


BYD


(1211. Hong Kong).