Toyota Motor's incoming president Sato Koji has laid out his plans for the future of the automotive giant. He says the firm will focus on green initiatives, including efforts to accelerate the development of electric vehicles.

Sato said in a press conference on Monday that the global situation regarding energy types and usage varies. He pledged the company would stand by their customers around the world and provide a variety of options.

He also said the company aims to complete development of next-generation EVs and batteries for Lexus brand luxury vehicles in 2026.

Sato added that the development of a clean energy city project and carbon-free initiatives in Asia will also be core business areas.

He said a new management system will take effect on April 1. The number of executive officers including himself will be reduced from the current eleven to eight.