Toyota, the world’s largest automaker, joined the electric vehicle bandwagon late Tuesday, saying it hopes that by the end of the decade, battery-powered cars would account for a third of sales and nearly all of its luxury brand’s sales. Lexus.
The Japanese automaker pioneered hybrid vehicles that use electric and gasoline engines, but it has been slower than rivals like Volkswagen, General Motors and Ford Motor to sell cars that run solely on batteries. GM aims to phase out gasoline-powered vehicles in favor of electric vehicles by 2035.
Toyota said Tuesday that one of its factories in Japan is preparing to begin production of an electric sport-utility vehicle developed with Subaru, called the bZ4X. (BZ stands for “beyond zero”) The vehicle will go on sale early next year, Akio Toyoda, the president of Tokyo Motor Corporation, said at an event in Tokyo.
The company aims to produce 3.5 million electric vehicles by 2030, or about a third of Toyota’s pre-pandemic sales. Toyota will offer 30 battery-powered vehicles by the end of the decade, Mr Toyoda said as he stood between rows of prototypes that also include an electric pickup truck, an all-terrain vehicle similar to the Toyota Land Cruiser and a two-seat sports car.
By 2030, the Lexus brand will only sell electric vehicles in the United States, Europe and China.
The pressure on traditional car manufacturers to drive electric is increasing. Tesla has captured a significant portion of the high-end car market in the United States, Europe and China. Electric car sales have grown faster than most automakers expected due to government incentives and demand from car buyers who are concerned about the environment or prefer electric cars for aesthetic or performance reasons.
In Europe, battery-powered vehicles account for more than 10 percent of new car sales. President Biden’s infrastructure plan is expected to boost electric vehicle sales in the United States. In addition to Teslas, cars like Ford’s Mustang Mach-E were in high demand; an electric version of the Ford F-150 pickup is coming next year; a Hummer pickup from GM; and the ID.4 SUV from Volkswagen.
Mr Toyoda, who has been criticized by environmentalists for the company’s resistance to electric cars, said Toyota is still not ready to go all-in on electric vehicles. The company will continue to sell hybrid and fossil fuel-powered models, as not every region has electric vehicle chargers and associated infrastructure, he said.
“It’s not us, but the local markets and our customers who decide which options to choose,” he said.