Toyota finally reveals details of its plan to catch up with some of its electrification rivals; The automaker has focused primarily on hybrid and hydrogen fuel cell vehicles so far, despite having led the market with the Prius, but will focus more on pure electric vehicles in the future, with a plan to offer more than 10 pure battery vehicles since 2020 and the goal of making available a hybrid or fully electric version of each car that sells by 2025.
Toyota's announcement comes through a press conference in Tokyo on Monday, which details the company's previous comments about its intention to target China first for the sale of fully electric vehicles. It also plans to sell EV insurance in Japan, India, Europe and the US. UU., Says the automaker.
To help make this happen, Toyota will partner with Panasonic on battery technology, including the development of new next-generation batteries, as well as state-of-the-art lithium-ion power houses. You will invest as much as $ 13.3 billion through 2030 in battery development to help you achieve the pace in the EV space.
Toyota's plans also involve reaching a point where approximately half of its annual vehicle sales are accounted for. by electrified vehicles, including hybrid and all-electric vehicles, has a firm target of 5.5 million electric vehicles sold annually in 2030.
This is the last of a series of announcements in the last year or two of the manufacturers of automobiles that declare their intention either to push the accelerator on slates of complete electrified vehicles or to focus exclusively on non-ICE engines in some cases. Toyota had faced some criticism for being behind in this regard, so this announcement is an important statement of its intention to chart a path similar to that of many of its rivals.
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