Toyota reportedly plans speed up production of electric vehicles under its own brand as well as Lexus, the Nikkei newspaper reported on Friday.
The Nikkei report said the Japanese carmaker was likely to step up production of battery-powered vehicles over the coming years to reach annual output of more than 600 000 vehicles in 2025. Toyota declined to comment on the report.
The company has previously said it targets sales of 1.5 million EVs annually by 2026 and 3.5 million, or about one-third of current global volume, by 2030.
However there’s still a long way to go as Toyota last year sold fewer than 25,000 EVs, including of its Lexus brand, worldwide.
It sought to raise EV production to about 150,000 vehicles in 2023 and gradually increase it further to the 190,000-vehicle range next year, Nikkei said.
This will of course go hand-in-hand with a rapid product expansion, with many likely spawning from the 15 concept cars that the company revealed in December 2021.
While many of these are premium product by Lexus, Toyota is also planning to imminently introduce a more affordable battery-powered SUV model to slot beneath the bZ4X crossover. The new model was teased on Toyota’s Twitter account this week, and will be based on the bZ Compact SUV concept car that was revealed in 2022.
私たちが生きる今は、次世代が生きる未来でもある。
プリウスから付けられたこのバッジには、地球に暮らす人々の幸せを大切にし、次世代にそれを引き継いでいきたいというメッセージが込められています。
ゼロを超えた未来へ。BEYOND ZERO。#TOYOTA #BEYONDZERO pic.twitter.com/A15shOgXxS
"We've only just begun to scratch the surface of the Beyond Zero moniker," said Toyota group vice president and general manager David Christ of the concept model.
"With an aerodynamic design coupled with intuitive tech features never before seen in a Toyota model, the bZ Concept showcases another possible vision of the very near future with our battery electric vehicles."
Back in June Toyota announced plans to introduce high-performance, solid-state batteries and other technologies to improve the range and performance and to cut costs of its electric vehicles.
The Japanese carmaker said it aims to launch next-generation batteries from 2026, seeking to win over consumers with vehicles that offer longer driving ranges and quicker charging times.
It also said it was developing a method to mass produce solid-state batteries, which it aims to commercialise in 2027-2028.
The company also said it would produce an EV with a more efficient lithium-ion battery which would have a range of 1 000km.
IOL & Reuters