Toyota wants to accelerate its EV production plan. It follows years of sitting on the sidelines while pushing for the further development of hybrid technologies.
Then, in April this year, new CEO Koji Sato said that Toyota and Lexus aim to shift 1.5 million battery electric units annually by 2026, increasing to 3.5 million by the end of 2030. Last year, Toyota sold just 24,000 EVs.
A new report from Nikkei Asia says that Toyota now wants to triple production by the end of 2025, bringing it to 600,000 units. The move comes as the Japanese automaker trails leading players in the electric vehicle space, such as BYD and Tesla. According to the report, Toyota and Lexus have already told their suppliers of the plans to increase output.
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