Long accused of being a latecomer to the electric vehicle game, Toyota has been busy lately telling the world how it's going to reinvent the way it produces cars in order to become an EV powerhouse. And today we know more about how the world's biggest automaker plans to get there.
Under new CEO Koji Sato, Toyota aims to launch 10 new EVs by 2026 and targets annual sales of 1.5 million EVs in 2026 and 3.5 million in 2030. (Additionally, Lexus aims to go fully electric in North America by 2030 and then globally by 2035.) This is a very ambitious plan, as Toyota sold only 24,400 battery-electric vehicles worldwide last year, but let's not forget we're talking about an industrial giant that sold 10.5 million vehicles in 2022.
Much of this relies on Toyota's next-generation manufacturing processes, which the company previewed last month in Japan at three of its plants. Now, the automaker has released more details about how the new EV manufacturing breakthroughs will help it churn out electric vehicles and batteries more quickly at much lower costs.
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