In the wave of developing electric vehicles, Toyota, a major fuel vehicle manufacturer, has been criticized by investors in recent years for its slow progress. However, as competition intensifies, the demand for electric vehicles continues to increase, and other manufacturers accelerate their transformation to electric vehicles, Toyota is also increasing investment in electric vehicles. After the new president and CEO Tsuneji Sato took office, they are also accelerating the development of electric vehicles.
According to the latest reports from foreign media, Toyota plans to accelerate the production of electric vehicles and is seeking to increase the annual output of electric vehicles to more than 600,000 units in 2025.
Foreign media mentioned in reports that, including its luxury car brand Lexus, Toyota sold less than 25,000 electric vehicles globally last year and will produce more than 600,000 vehicles in 2025, which means Toyota's electric vehicle production will increase significantly in the next few years.
Foreign media also mentioned in reports that Toyota is seeking to increase the production of electric vehicles to 150,000 units this year and 190,000 units next year. By 2026, they hope to sell 1.5 million electric vehicles globally, increasing to 3.5 million by 2030, which will account for about one-third of all sales that year.
It is worth noting that since the beginning of this year, there have been reports that Toyota will accelerate the development of electric vehicles. In early April, it was reported that at his first press conference after taking over as president and CEO, Tsuneji Sato stated that Toyota plans to launch 10 new pure electric vehicles by 2026, and it is expected that annual sales of electric vehicles will reach 1.5 million by 2026.
Toyota, which is accelerating the development of electric vehicles, will also have more factories producing electric vehicles. Foreign media mentioned in reports that Toyota plans to start mass production of electric SUVs in 2025. They also hope to increase the monthly production of electric vehicles at the new Kentucky factory to 10,000 units by the end of 2025 and produce approximately 200,000 electric vehicles in 2026.
However, judging from the output mentioned by foreign media, even if Toyota increases the production of electric vehicles to more than 600,000 units in 2025, there will still be a big gap with the current electric vehicle manufacturers at the forefront of the industry. Tesla produced 1.369 million electric vehicles last year and more than 920,000 in the first half of this year.