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New platforms planned for half of Toyota vehicles by 2020

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Bloomberg is reporting that Toyota plans to shift half of its vehicles to new platforms and increase the use of shared components by 2020 in order to reduce production costs by at least 20%, following the example set by Volkswagen.

As you know, most automakers are now attempting to increase productivity and save money by using global platforms and flexible assembly lines. In turn, this allows them to develop cars that are lighter, more fuel-efficient and more reliable, not to mention filled with new technology.

Toyota Executive Vice President Mitsuhisa Kato said that the first new platform will debut with a midsize, front-wheel-drive vehicle. Chances are the next generation of the Prius, which goes into production later in 2015, is that lucky vehicle.

Expect a more than 25% improvement in fuel efficiency, Toyota promises. What's more, the cost of starting new production lines will be half of what it was back in 2008. 

Source : Bloomberg