Toyota Bets Big On EVs For The Future

Toyota Bets Big On EVs For The Future

Toyota Motor Corp. held an EV briefing on Tuesday where it announced 16 new Battery Electric Vehicles (BEV) that will launch in the next few years, as well as the company’s plan of selling 3.5 million EVs a year starting in 2030.

Toyota Reveals Plan to Achieve Carbon Neutrality by 2030

Just like most car manufacturers right now, Toyota is pushing for carbon neutrality. To achieve this, Toyota said it will further increase its investment in battery development, from ¥1.5 trillion to ¥2 trillion. 

In addition, Toyota also announced that it will launch 30 EV models globally by 2030,  twice the number of the previously promised 15 models by 2025. At present, Toyota already has 13 battery-powered vehicles in the United States: bZ4X, Tundra i-FORCE, Venza, RAV4 Prime, RAV4 Hybrid, Highlander Hybrid, Corolla Hybrid, Sienna, Avalon Hybrid, Prius, Prius Prime, and Mirai. In the Philippines, however, only the Corolla and the recently launched Camry are available with hybrid tech.

Toyota also surprised the US market—where the automaker is considered behind in the EV game—when it announced that it will break ground on its first battery factory in the U.S. at a mega-site located in North Carolina. Meanwhile, green advocates in Europe will be glad to know that Toyota will only sell them zero-emission vehicles by 2035, in accordance with European Union’s green deal measures proposed earlier this year

Toyota, just like other manufacturers, will push for electrification more than ever. President Joe Biden laid out the challenge for automakers to be able to produce half of all vehicles sold in the U.S. emission-free by the end of the decade.

However, Toyota will not abandon other options to achieve carbon neutrality. For developing countries, combustion engines found in hybrid vehicles will still be around for a long time.

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