According to recent comments from Toyota North America, the automaker expects to surpass the 200,000 vehicle threshold for EV sales sometime this summer, disqualifying itself from any additional tax credits in the United States under current legislation. Toyota’s federal tax credits will be phased out just as the automaker plans to begin sales of its lone BEV, the bZ4X, later this year.
Toyota currently sits as the world’s top selling automaker, having sold 10.5 million vehicles in 2021, despite taking a bafflingly slow approach to BEV innovation. Contrary to well-documented attempts by the Japanese automaker to inhibit EV adoption, it has recently come around to the idea that electric vehicles might be the future of transportation.
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