The world’s best-selling car of all time is going electric. Toyota warned it “cannot survive” by sticking to its traditional methods as it pins its future on the next-generation Corolla EV. When is Toyota launching the next-gen Corolla EV? With 12 model changes and over 57 million units sold since its launch 60 years ago, the Toyota Corolla has surpassed the Volkswagen Beetle to become the world’s best-selling vehicle. The Corolla is “a symbol of Toyota,” Akio Toyoda, the company’s current chairman and former CEO, said during an exclusive interview with Japanese media NHK. The special broadcast that aired on Sunday, July 19, went behind the scenes at Toyota’s “top-secret” development site, where the next-generation Corolla is being built. Advertisement - scroll for more content While Toyota remained the world’s largest automaker in 2025, the Japanese car giant is feeling the pressure as Tesla and Chinese automakers like BYD are forcing the industry to adapt or get left behind. “There seems to be a considerable sense of crisis within the company,” Toyoda told NHK during the 50-minute interview. Toyota Corolla Concept (Source: Toyota) New competition and evolving technology “are inevitable,” the company’s chairman said, but the biggest risk for Toyota right now is becoming complacent. “If that happens, it’s over,” Toyoda warned, adding that “Unless Japan is a country chosen by every other country, it cannot survive.” Toyota engineers in charge of development of the next-generation Corolla (Source: NHK) Several others who were interviewed during the broadcast expressed similar concerns. One of the engineers admitted, “I think we are losing to China,” when asked for his honest opinion about Toyota. The special went behind the scenes at the next-gen Corolla development site. During the broadcast, a few Corolla Concept prototypes and other covered Toyota vehicles were shown in the background. Toyota CEO Koji Sato reveals the Corolla Concept at the Japan Mobility Show (Source: Toyota) The prototype remains nearly identical to the Corolla Concept Toyota revealed at the Japan Mobility Show last October, with a low-slung silhouette and sports-car-like front end. “Whether it’s a battery EV, plug-in hybrid, hybrid, or internal combustion engine vehicle―whatever the power source―let’s make good-looking cars that everyone will want to drive!” CEO Koji Sato said after unveiling the concept. The interior of the Toyota Corolla EV concept (Source: Toyota) The next-gen Corolla is “packed with innovations,” Sato promised. It will be based on a new platform that supports all powertrain configurations, from battery electric (BEV) to plug-in hybrids to gas-powered vehicles. During the broadcast, Toyota’s engineers expressed concerns about the company’s development cycles and manufacturing methods compared with Chinese automakers like BYD. Toyota CEO Koji Sato with the Corolla Concept (Source: Toyota) Toyota is keeping most details a secret, but the concept did feature a closed-off grille and charge point, suggesting it was the EV version that was under development. Despite the emerging “sense of crisis,” the new platform set to underpin the next-gen Corolla is still expected to support EV, plug-in hybrid, traditional hybrid, and internal combustion engine (ICE) powertrains. Several different variants were shown under development during the broadcast, as you can see in the images from almuraba, including a sedan, hatchback, crossover, and GR model. Toyota is now “in the midst of unprecedented transformation,” NKH said, after realizing it cannot survive by sticking to its traditional methods. The report comes after Toyota canceled the Lexus LF-ZC last month, its flagship EV that was expected to debut with advanced new batteries and manufacturing methods. Electrek’s Take While Toyota has gained some momentum with its new and updated electric vehicles like the 2026 bZ (bZ4X overseas), C-HR (C-HR+), and bZ Woodland (bZ4X Touring), it continues delaying the inevitable transition to pure battery electric vehicles. Top comment by Volvo Guy Liked by 85 people Wow. 2026 and Toyota is building a new compromise platform? That really makes me worried for their future. When I worked at an OEM, we built what we referred to as a compromise platform that supported ICE, HEV, PHEV, and EV variants. It made sense for us to dip our toe in the EV waters, but that was nearly a decade ago. Many compromises need to be made to support all those variants, so you don't get the benefits you would expect from a dedicated skateboard EV platform. For Toyota do be doing anything other than a clean sheet EV platform in 2026 just shows how far behind they are. View all comments Offering every powertrain option may work for now, but Toyota is already falling behind when it comes to battery tech, electric drive trains, software, and other related EV tech. BYD’s CEO, Wang Chuanfu, claimed the company will “truly become the No. 1 automaker globally in terms of scale,” within the next five years. It already surpassed Ford as the sixth-largest automaker in 2025. After it stopped producing vehicles powered solely by an ICE engine in 2022 to focus on electric and plug-in hybrid vehicles, BYD’s big bet is paying dividends. Will it outsell Toyota by 2030? Let us know your thoughts in the comments below. Stay up to date with the latest content by subscribing to Electrek on Google News. You’re reading Electrek— experts who break news about Tesla, electric vehicles, and green energy, day after day. 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