Toyota Motor Corp unveiled its long-awaited plan to electrify its vehicle lineup, but didn’t say exactly how it plans to beat electric vehicle rivals like Tesla. The company said it will launch 10 new electric vehicle models by 2026 and sell 1.5 million battery electric vehicles a year, while bolstering its hybrid and plug-in hybrid models.
It aims to halve its emissions by 2035 and become carbon neutral by 2050. “First we have to do what we can and start electrifying,” Koji Sato said in his first public appearance since becoming in CEO and president of the company on April 1. the executive did not fully embrace a 100% electric future as many other automakers have done. The OEM appears to have a multi-track approach to carbon neutrality.
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In developed markets, Toyota plans to improve the performance of its bZ series of electric vehicles and in North America, it plans to have a locally produced battery SUV by 2025, as well as increase the production of the battery plant. In China, it plans to add two locally developed electric models by 2024. In Asia, Toyota will also focus on battery pickup trucks and compact electric cars.
Saro reported that building a dedicated electric vehicle production platform from scratch while navigating persistent pandemic measures, supply chain disruptions and semiconductor shortages is a top priority for the company . The Japanese automaker expects to produce up to 10.6 million cars this year, in a new era of electrification and smart vehicles.
In December 2021, Toyota pledged to sell 3.5 million electric vehicles annually by 2030, but battery-powered vehicles accounted for just 16,000 of the 9.5 million cars it sold last fiscal year. end in March 2022. Now it remains to be seen how Toyota manages to comply. their goals of selling as many electric vehicles.
Date of first publication: April 9, 2023, 11:36 am IST
