Sato has stated his EV overhaul will lead off with Lexus, which already has stated it plans to go absolutely electrical worldwide by 2035 and promote 1 million EVs globally in 2030.
Toyota, as an entire, is concentrating on international gross sales of three.5 million EVs in that time-frame.
Getting there would require a fast climb. In 2022, Toyota bought solely 24,466 full-electric autos worldwide. That compares with 2.6 million hybrids in the identical interval.
But Toyota is stepping up the tempo in 2023, with a ramped up rollout of the Toyota bZ4X crossover and its Lexus premium counterpart, the RZ.
Toyota’s international EV gross sales greater than tripled to 9,016 autos within the first two months of the yr.
In the vital U.S. market, in the meantime, Toyota bought about 1,880 EVs by way of March. By distinction, General Motors, its high mainstream American rival, bought greater than 20,000.
But at the same time as Toyota strikes sooner into EVs, the competitors shouldn’t be standing nonetheless.
If Toyota reaches 1.5 million EV gross sales in 2026, Chinese EV rival BYD might be promoting 3 million and Tesla as a lot as 5 million, stated Koji Endo, senior auto analyst at SBI Securities Co. in Tokyo.
“Toyota’s 2026 goal is a big, big jump, as far as Toyota is concerned,” Endo stated. “But you need to compare it with other makers. There could be half a dozen companies selling more than 1.5 million EVs in 2026. Can they really catch up to those front-runners? That’s the question.”
Source: europe.autonews.com