Toyota Outlines Electric Vehicle Expansion Plan – World News

Toyota Outlines Electric Vehicle Expansion Plan

Toyota, the world’s largest carmaker, joined the electric vehicle bandwagon late on Tuesday, saying it expects battery-powered cars to account for a third of sales and nearly all Lexus luxury brands by the end of the decade. will be sold.

The Japanese automaker pioneered hybrid vehicles that use electric and gasoline motors, but this is slower than rivals such as Volkswagen, General Motors and Ford Motor, which sell cars that run entirely on batteries. GM aims to phase out gasoline-powered vehicles in favor of electrics by 2035.

Toyota said on Tuesday that one of its factories in Japan is gearing up to begin production of an electric sport-utility vehicle developed with Subaru called the bZ4X. (BZ means “beyond zero.”) The vehicle will go on sale early next year, Toyota Motor Corporation president Akio Toyoda said at an event in Tokyo.

The company aims to produce 3.5 million electric vehicles by 2030, or about a third of Toyota’s sales before the pandemic. Toyota will offer 30 battery-powered vehicles by the end of the decade, Mr. Toyoda said prototype Including an electric pickup truck, an off-road vehicle similar to the Toyota Land Cruiser, and a two-seater sports car.

The Lexus brand will sell nothing but electric vehicles in the United States, Europe and China by 2030.

Traditional car makers are under increasing pressure to go electric. Tesla is taking a significant share of the high-end car market in the United States, Europe and China. Electric car sales are growing faster than most car manufacturers prefer electric cars due to government incentives, as well as demand from car buyers concerned about the environment or for aesthetic or performance reasons.

In Europe, battery-powered vehicles account for more than 10 percent of new car sales. President Biden’s infrastructure plan is expected to boost electric vehicle sales in the United States. Apart from Tesla, there has been strong demand for cars like the Mustang Mach-E from Ford; an electric version of the ford F-150 Pickup is coming next year; a Hummer pickup truck from GM; and from ID.4 SUV Volkswagen,

Mr Toyoda, who has been criticized by environmentalists for his company’s resistance to electric cars, indicated that Toyota is still not ready to get into electric vehicles. He said the company will continue to sell hybrid and fossil fuel-powered models as not every segment has an electric vehicle charger and related infrastructure.

“It is not us but the local market and our customers who decide which option to choose,” he said.

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