According to the Nikkei report, the Japanese carmaker will likely increase the volume of battery-powered vehicles it produces over the next few years to reach an annual output of more than 600,000 vehicles by 2025. Previously, the business stated that it aimed to sell 1.5 million EVs annually by 2026 and 3.5 million, or roughly one-third of the current worldwide volume, by 2030.
However, so far this year, Toyota has grown production to around 150,000 vehicles, and the automaker plans to progressively increase it to the 190,000 vehicle range next year.
Furthermore, Toyota has informed several of its key suppliers about its intention to ramp up production over the coming years. Yet, 0.26% of the 24,466 EVs sold comprised all sales that Toyota and Lexus sold in 2022.
With only 7,400 units sold through the first seven months of 2023, the trend has continued this year but still represents less than 1% of total sales. The RZ electric SUV, Lexus’ first EV, has sold 2,068 units in the US. Toyota sold 3,659 units of the bZ4X, its only electric vehicle, in the first half of the year.
The business recently unveiled the roadmap for its upcoming EV batteries. The plan fits with Toyota’s new production ramp to include sophisticated EVs with a roughly 500-mile range scheduled to arrive in 2026.
Amid the industry upheaval, Toyota unveiled its future EV production line earlier this week, which includes Giga casting technology, self-propelled assembly lines, and robots to deliver finished vehicles.