Toyota, the Japanese automotive giant, recently released a statement outlining its ambitious plans for electric vehicle (EV) production over the next decade. The company aims to launch 10 new models by 2026 and produce 3.5 million EVs by 2030, joining a growing list of automakers committing to a future powered by electricity. Toyota has been slower than some competitors to embrace EVs, instead focusing on hybrid technology as a bridge toward fully electric vehicles. However, the company has now revealed that it plans to spend around $13.5 billion on EV development over the next five years, with 70% of that investment going toward battery research and development.
10 New Models by 2026
Toyota currently only offers one fully electric vehicle, the C-HR, which is mainly sold in China. However, the company plans to expand that lineup with 10 new models by 2026. These models will include compact cars, SUVs, and even commercial vehicles. Toyota aims to offer electrified versions of every model it sells by 2025, providing customers with more choices while helping the company meet increasingly stringent emissions regulations around the world. 3.5 Million Units by 2030 Another goal for Toyota is to produce 3.5 million EVs per year by 2030, with 1 million of those units sold in Japan. The company will achieve this by ramping up production of EVs in all regions where it operates, with a focus on China, Europe, and the United States. Toyota plans to develop a new platform for its EVs will across various models, helping to speed up production and reduce costs.
Toyota’s investment in battery research and development is a significant part of its push toward increasing EV production. The company plans to expand its battery research team to around 1,000 employees by 2021. It will also partner with Chinese battery manufacturers to ensure a steady supply of high-quality batteries. Toyota is also working on solid-state batteries, which offer higher energy density and faster charging times than traditional lithium-ion batteries. The company hopes to have solid-state batteries powering its EVs by the early 2020s. Although it faces stiff competition from companies like Volkswagen and BMW, which are also working on this technology.
Another critical piece of the puzzle for Toyota and other automakers is the development of the charging infrastructure. Toyota has partnered with Subaru, Mazda, and parts manufacturer Denso to form a new company focused on developing charging stations that are easy to use and affordable. The new company will work with local governments and businesses to deploy these charging stations across Japan. It helps to boost consumer confidence in EVs and makes them a more viable option for everyday use.
Toyota has set an ambitious goal for its EV production. With plans to release 10 new models by 2026 and produce 3.5 million units by 2030, Toyota is making a serious push toward sustainable transportation. While EVs currently make up a small percentage of Toyota’s sales, the company remains committed to reducing its carbon footprint and meeting the demand for electric vehicles.