Toyota aims to have about 15 electric vehicle models developed on its own by 2027 and is targeting production of about 1 million cars a year by then, the Nikkei newspaper said on Sunday.
Toyota declined to comment, saying the information was not announced by the company.
Toyota has five EV models developed in-house, manufacturing them only in Japan and China, the Nikkei said. Expanding production to the United States, Thailand and Argentina can help hedge against tariff and foreign exchange risks and cut delivery times, it added.
The 15 EV models include some under its Lexus luxury brand, the business daily said. Toyota now expects to produce about 800,000 units in 2026, effectively down nearly 50% from its original plan, Nikkei added.
Toyota has previously said it intended to sell 1.5 million EVs per year by 2026 and 3.5 million by 2030, calling the numbers benchmarks for shareholders rather than targets.
In 2024, it sold almost 140,000 EVs globally, up by about a third from a year earlier. They accounted for less than 2% of its total global sales of over 10 million.
Source : Reuters
Quantitative easing has faced recent criticism for causing large central bank losses and contributing to…
Artificial intelligence is already reshaping the economy and society. This column analyses how AI affects…
A record number of young people are approaching working age in emerging markets and developing…
Poverty is not a static condition but a dynamic process. Yet the at-risk-of-poverty rate, which…
Governments increasingly look to capital income for both revenue and redistribution. This column compares two…
Of the estimated 244 million firms in Africa, 232 million (95%) are own-account businesses consisting of…