- The Japanese auto giant is investing $18B towards battery technology and manufacturing. Lexus To Go All-Electric by the end of the decade
- What’s in Store
- The Time Horizon
The Japanese auto giant is investing $18B towards battery technology and manufacturing. Lexus To Go All-Electric by the end of the decade
Toyota has ambitious goals for an all-electric future. The Japanese automaker plans to considerably expand its electric vehicle lineup over the coming years.
Akio Toyoda, the brand’s President & CEO himself was at hand to give us a glimpse into what Toyota has in store for their next decade, which is set to be dominated by EVs. In a mega unveil for the brand’s future EV strategy, he gives us a first look at 16 distinctive concept vehicles that the brand has been working on.
Overview
Toyota is presently the world’s largest automaker by sales; despite the chip shortage, its output target for this year is roughly nine million vehicles. Unlike many other automakers, Toyota has been cautious to commit to 100 percent electric vehicles.
To show off these concepts, you had none other than the Japanese brand’s President and CEO, Akio Toyoda
The brand has always relied on hybrids like the Prius to showcase its commitment towards greener mobility. They have also looked at hydrogen as an alternative in the form of the Mirai. However, since this year, the business has made an increasing number of announcements about all-electric vehicles, with concepts like the BZ4X.
What’s in Store
Looking at the sheer number of vehicles on display, you can get a sense of the scale and Toyota’s ambitious goals for a greener future. They will be introducing electric cars across the board with everything from little hatchbacks, sedans, cross-overs, pickup trucks, and even all-electric sports cars.
There’s something for everyone here. What caught our attention were electrified versions of the Tundra pickup and an FJ Cruiser. However, there are no specifics on technical data or market debuts at this time. Toyota intends to invest two trillion yen in battery development and manufacturing ($18 billion). This is one-third more than that of the sum disclosed in September, 1.5 million yen ($13.5 billion).
The Time Horizon
Toyota said that the Lexus brand will go all-electric by the end of the decade
According to Toyota President Akio Toyoda, the company plans to sell 3.5 million EV’s annually with 30 battery-electric vehicles in its lineup by 2030. Toyota also declared that its luxury brand Lexus will be “100% Electric” in Europe, North America, and China by 2030, which would equate to about one million vehicles per year.
Conclusion
With a brand like Toyota committing to an electrified future on such a large scale, it looks like the stage for the next chapter of mobility is set. We all saw this coming and it was inevitable. Having said that, this change will happen gradually over the course of the coming decade as Toyota will not focus entirely on battery-electric vehicles, because plug-in hybrids, hybrids, and hydrogen will all continue to play an integral part for the Japanese automaker.
Keyword: Toyota is Betting Big On EV’s; Shows off 16 New EV Concepts