Toyota aiming for over 600,000 electric vehicles by 2025

Robert Besser
26 Sep 2023, 17:20 GMT+10

Toyota Motor (7203.T) is ramping up its production of electric vehicles under both the Toyota and luxury Lexus brands
The Nikkei report suggests that the Japanese automaker plans to significantly increase its output of battery-powered vehicles in the coming years to produce more than 600,000 EVs annually by 2025
Previously, the company had announced its ambition to achieve sales of 1.5 million EVs annually by 2026 and eventually, by 2030, reach a milestone of 3.5 million EVs

TOKYO, Japan: Toyota Motor (7203.T) is ramping up its production of electric vehicles (EVs) under both the Toyota and luxury Lexus brands, according to a report by the Nikkei newspaper this week.

The Nikkei report suggests that the Japanese automaker plans to significantly increase its output of battery-powered vehicles in the coming years to produce more than 600,000 EVs annually by 2025. Toyota has chosen not to comment on the report at this time.

Previously, the company had announced its ambition to achieve sales of 1.5 million EVs annually by 2026 and eventually, by 2030, reach a milestone of 3.5 million EVs sold, which would account for roughly one-third of the current global market volume.

In 2022, Toyota sold fewer than 25,000 EVs worldwide, including those from its Lexus brand. The company had already set targets to increase EV production to around 150,000 vehicles in 2023, with gradual increments expected to reach the range of 190,000 vehicles next year, as reported by Nikkei.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to California Telegraph.

More Information

50 ℉

Fair in Sacramento/Executive

International

Section

Detention extended by Russian court of WSJ's US reporter

MOSCOW, Russia: A Russian court has extended the detention of Evan Gershkovich, a U.S. reporter for the Wall Street Journal, ...

Casualties mount again in Gaza as bombardments gather pace

Israel intensified its deadly bombardment of the Gaza Strip Saturday as renewed fighting with Hamas entered a second day following ...

Nikki Haley's 2024 Republican presidential bid endorsed by Koch Group

ARLINGTON, Virginia: This week, the conservative U.S. political network Americans for Prosperity Action (AFP Action), led by billionaire Charles Koch, ...