Toyota is planning to release cost-effective electric vehicles.
During its 2023 financial results press briefing, Toyota revealed plans to launch 10 battery electric vehicle (BEV) models across various segments, including luxury, SUV, compact, sedan, commercial, MPV, and sports, by 2026.
The company’s CEO, Koji Sato, highlighted the introduction of hatchback EVs for emerging markets in the ASEAN region. While photos for the sedan segment were not provided, indicating ongoing development for emerging markets.
In April, Toyota’s vice president, Hiroki Nakajima, announced the rollout of the 10-model lineup and the establishment of a new EV manufacturing unit. Sato’s address emphasized the utilization of new platforms, powertrains, and technology in the forthcoming EV models by 2026.
Toyota aims to sell 1.5 million BEVs by 2026 and recently announced the restructuring of its EV business, including the dissolution of its zero-emissions vehicle (ZEV) unit and the establishment of a dedicated BEV factory and organization to accelerate EV development and business growth.
As Toyota is planning to release cost-effective electric vehicles, it still intends to offer a range of environmentally friendly powertrain options; the focus will now be on advancing EV development.
Toyota Motor Corporation, commonly known simply as Toyota, is a Japanese multinational automotive manufacturer headquartered in Toyota City, Aichi, Japan.
It was founded by Kiichiro Toyoda and incorporated on August 28, 1937. Toyota is one of the largest automobile manufacturers in the world, producing about 10 million vehicles per year.
The company was originally founded as a spinoff of Toyota Industries, a machine maker started by Sakichi Toyoda, Kiichiro’s father. Both companies are now part of the Toyota Group, one of the largest conglomerates in the world.
While still a department of Toyota Industries, the company developed its first product, the Type A engine, in 1934 and its first passenger car in 1936, the Toyota AA.
