India, Jan. 29 -- Toyota Motor Corporation is reportedly working on an all-electric car platform, which would increase the competitiveness and efficiency of future electric vehicles of the automaker. Also, this new EV platform would reduce production costs of future electric cars of the brand, claims Japanese news publication Asahi Shimbun. The report also claims that this decision is part of Toyota's strategy to start mass production of EVs as it anticipates a rapid increase in consumer demand for pure electric vehicles amid the steep rise of petrol.

What's more interesting is the news comes right after Akio Toyoda stepped down as the group's CEO and was replaced by Lexus president Koji Sato. This could indicate a paradigm shift at Toyo...