Japanese automaker Toyota is on course in its pursuit of churning out 30 electric vehicle models by the turn of this decade. The company is making massive investments in EV technology and is gradually transiting its production facilities to EV plants in pursuit of its goals. Toyota plans to spend up to $17 billion in developing its capacity in electric vehicle manufacturing.
Toyota is ramping up its efforts across several fronts and pursuing a robust production schedule that will see it delivering 15 EVs by 2025 (the initial target) and going further to release 15 more EVs by 2030. The target also includes the production of 3.5 million EVs by 2030 for its global market. The Toyota Lexus brand will be transformed into an all-electric lineup by 2035 as part of the broad goals of the Japanese automaker.
Toyota was among the early pacesetters in the shift towards electric vehicles, but it lagged significantly, allowing Tesla and others to dictate the pace and hold substantial market shares globally. Toyota now intends to roll back the clock and position itself for the future of sustainability-oriented vehicles with varying levels of autonomous driving. Toyota had long held the view that the shift towards electric vehicles as an alternative to traditional automobiles was overhyped. However, the official view of the company on EV technology has seemingly changed as the company now says that it is pursuing EV production to reduce tailpipe emissions from its gas-powered automobiles.
No details were released about the lineup and features that will be present in the models. Toyota will be doing catchup even with several traditional carmakers like Honda, Nissan, Volkswagen, and Mercedes-Benz among several others who had embraced EV production, with some having plans to transit to all-EV production within the next decade.
RELATED:
- Tesla could announce the production of its electric cars in India as early as 2022
- China accounts for half of all Electric Vehicle sold in August: Report
- Honda seeks to sell 70,000 Prologue electric vehicles in the US from 2024
- Mercedes Benz reveals the 2022 EQE, a more compact yet sleek electric sedan
- Huawei unveils AR HUD tech for cars, turns the front windshield into a smart screen
