Toyota eyes EVs for half of global sales

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December 14, 2017

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Toyota eyes EVs for half of global sales

Source: AFP | 00:12 UTC+8 December 14, 2017 |

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TOYOTA said yesterday it wanted half of its global sales to come from electric-powered vehicles by 2030, as the industry strives to meet toughening environmental regulations.

Electric-powered vehicles now represent around 15 percent of the roughly 10 million units Toyota sells annually — mostly hybrids such as its best-selling Prius.

“By 2030, we aim to have 50 percent or more of our total vehicle sales coming from electric-powered vehicles, such as hybrid, plug-in hybrid, EV and FCV (fuel-cell vehicle),” said President Akio Toyoda in a rare public appearance.

Toyoda said the target would mean selling a total of 5.5 million electric-powered vehicles by 2030.

Of these, 4.5 million units would be gasoline-electric hybrid and plug-in hybrid vehicles and one million units would be all electric vehicles and hydrogen-powered fuel-cell vehicles, he said.

The target came as Toyota began talks with electronics giant Panasonic over a possible tie-up to develop, produce and recycle automotive batteries.

“The global automobile industry is going through a sweeping change seen only once in a century,” Toyoda said. “The key to electrifying vehicles in the future will be batteries.”

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Toyota eyes EVs for half of global sales

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