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Toyota Aims To Produce 600,000 EVs In 2025
- By The Financial District
- Sep 25, 2023
- 1 min read
Toyota Motor Corp. is planning to boost its production of electric vehicles (EVs) to approximately 600,000 units in 2025, more than three times the number of units projected to be produced in 2024, according to a report by Yomiuri Shimbun.
The Toyota bZ4X BEV I Photo: Toyota Global
The automaker intends to gradually expand its production capacity for EVs to meet its goal of selling over 1.5 million vehicles globally, as per sources.
In 2025, Toyota will commence production of an electric sport utility vehicle at its Kentucky plant in the United States. Given the popularity of SUVs in the US market, this move is expected to bolster the carmaker's EV sales.
Toyota sold approximately 38,000 EVs in fiscal 2022 and is targeting sales of around 202,000 in fiscal 2023.
The company plans to increase its investment in EVs while simultaneously enhancing profitability through a comprehensive production strategy, which includes gasoline-powered and hybrid vehicles.
