A Toyota EV car is seen at the Bangkok International Motor Show in Bangkok, Thailand, on March 30, 2022. Photo: Reuters
Toyota Motor is set to supercharge its production of electric vehicles, revealing an annual target of more than 600,000 vehicles to roll off its production lines in 2025.
The Nikkei newspaper reported that the Japanese automaker plans to step up production of EVs carrying both its Toyota and luxury Lexus brands over the next two years.
Also on AF: Fossil Fuel Phase-Out ‘Unrealistic’, China Climate Chief Warns
The company has previously said it was targeting sales of 1.5 million EVs annually by 2026 and 3.5 million, or about one-third of current global volume, by 2030.
Toyota last year sold fewer than 25,000 EVs, including of its Lexus brand, worldwide.
It had sought to raise EV production to about 150,000 vehicles in 2023 and gradually increase it further to the 190,000-vehicle range next year, Nikkei said.
Read more:
Toyota Japan Shutdown Down to Lack of Disk Space – Nikkei
Toyota to Accelerate China EV Push, Tech Programme
Toyota Claims EV Battery Breakthrough – Guardian
Toyota Reveals Supercharged EV Battle Plan, New Battery Tech
A former People's Bank of China official predicted on Sunday that policymakers would implement a…
Rich Chinese families and private companies have taken or sent an estimated $50 billion a…
Jakarta and the Asian Development Bank have agreed to a deal that will see a…
The pledge by over half the world's countries to triple renewable energy was perhaps the…
Honda Motor said on Saturday it was dismissing about 900 workers at its JV with…
The US will give $3 billion to the Green Climate Fund, sources said Saturday. The…