Toyota, known for its prowess in the automotive world, is shifting gears in the electric vehicle (EV) segment with an ambitious plan. While it’s been a bit hesitant to fully embrace battery-electric vehicles (BEVs) in the past, Toyota is now revving up its efforts to compete with heavyweights like Tesla and BYD. The goal? To make a massive impact in the global EV market.
In a significant move, Toyota has set its sights on producing a whopping 600,000 electric cars in 2025, and that’s not just for the Toyota brand but also for its luxury division, Lexus. This marks a remarkable three-fold increase from its earlier target of crafting 190,000 EVs by 2024. In the context of these ambitious figures, it’s worth noting that Toyota managed to sell around 24,000 electric cars in 2022. The plan for 2023 is even more ambitious, with Toyota aiming to sell a whopping 150,000 EVs. The company isn’t keeping this plan a secret either; it has already informed its major suppliers about this new production goal.
While Toyota has long been a dominant force in the automotive landscape, it’s taken a bit of time to fully embrace the world of BEVs. Historically, Toyota has favored a diversified approach to greener powertrains, rather than putting all its eggs in the BEV basket. However, the ever-evolving landscape and the changing preferences of consumers have prompted Toyota to rethink its strategy. This change in direction comes hot on the heels of Toyota unveiling its state-of-the-art next-generation EV production line in Japan.
The epicenter of Toyota’s electrification offensive seems to be the US market, where it’s aiming to significantly boost its sales. Currently, Toyota’s pure EV sales in the US pale in comparison to the juggernaut that is Tesla. In fact, they’re even trailing behind the likes of Ford and General Motors. Nevertheless, Toyota is not one to back down from a challenge. With plans to introduce as many as 10 new Toyota and Lexus electric cars by 2026, they’re setting their sights on catching up with the competition.
But, let’s face it, even if Toyota manages to produce 600,000 electric cars in 2025, it’ll still have some catching up to do. Tesla, for instance, has set an astounding target of manufacturing 1.8 million EVs in 2023. Plus, with Tesla’s global network of Giga factories expanding, they’re poised to significantly scale up production.
In conclusion, Toyota is gearing up for an electrifying journey in the EV world, aiming to make a substantial impact by 2025. While the road ahead may be challenging, Toyota’s reputation for innovation and determination suggests that they’re not backing down from the competition anytime soon. Will they manage to close the gap with the EV giants? Only time will tell.