Toyota is pumping tens of billions into the development and production of electric cars. The world’s largest automaker aims to sell 3.5 million all-electric cars annually by the end of the decade.
In concrete terms, the investment amounts to approximately €31 billion. Thirty electric models should have been developed by 2030, of which fifteen models should be developed by 2025. The new goals should make Toyota a formidable competitor to brands such as Tesla and also Volkswagen, which is also strongly committed to electric driving.
Toyota’s move comes after long hesitation. For years, the group wondered whether the world, outside Europe and the United States, is really ready for the switch from regular combustion engines to electric or semi-electric variants. “We want to be ready for any change and offer our customers a range of options,” chief executive Akio Toyoda said on Tuesday.
Toyota is also investing another €31 billion in hybrid and fuel cell cars. By comparison, Nissan is investing €15.5 billion in electrification and Volkswagen is investing €52 billion in the development and production of new electric vehicles.
Models
Toyota is kicking off the new electric offensive with the bZ4X, which was recently unveiled. On Tuesday, Toyota presented, in addition to the investment plans, a huge series of production-ready looking fully electric study models. Toyota’s luxury brand is also happily participating. That starts with the Lexus RZ 450e, but Lexus also showed more newcomers.
– Thanks for information from Autoweek.nl