Toyota plans to ramp up production of electric vehicles (EVs) under its own brand and Lexus, with a target of producing over 600,000 EVs annually by 2025.
- The Japanese automaker aims to achieve sales of 1.5 million EVs per year by 2026 and approximately 3.5 million EVs, accounting for about one-third of its global volume, by 2030.
- In 2023, Toyota aims to increase EV production to around 150,000 vehicles, with a further gradual increase to the range of 190,000 vehicles in the following year.
- The company plans to introduce solid-state batteries and other advanced technologies to enhance the range, performance, and cost-effectiveness of its electric vehicles.
- Toyota is developing a more affordable battery-powered SUV model, which will be based on the bZ Compact SUV concept car unveiled in 2022.
- The automaker teased the upcoming compact SUV on its official Twitter account, highlighting its aerodynamic design and innovative tech features.
- The new compact SUV represents Toyota’s commitment to expanding its electric vehicle lineup and offering consumers diverse options in the rapidly evolving EV market.