Economy

Toyota planning 10 purely electric vehicles by 2020s

Toyota planning 10 purely electric vehicles by 2020s

This target also includes a goal of 1.0 million combined sales of zero-emission battery and fuel cell cars.

Japanese auto major Toyota today said it will launch more than ten battery electric vehicles by early 2020s starting in China, with India to be among the first markets along with the U.S. and Europe besides its home turf.

Terashi said Toyota's EVs will also later be offered in Japan, India, the US and Europe.

Panasonic already supplies lithium-ion batteries for Toyota's plug-in hybrid, the Prius, and the new venture is a step forward towards strengthening the engineering relationship between the two brands. Industry experts anticipate sales to reach 10 percent in coming decades.

Toyota has expanded EV development capabilities since a year ago when it announced it would add fully electric vehicles to its product line-up.

In September this year, Suzuki announced that it would be setting up a lithium-ion battery plant in India in collaboration with Toshiba and Denso (a Toyota Company).

More news: Gujarat polls 2017: Congress questions BJP's 22 years of rule in state

Terashi, who heads Toyota's EV Business Planning Department, said the automaker was not shifting focus from FCVs to EVs, but rather planned to increase offerings in both segments.

Advances in battery technology are vital for the success of EVs.

The electrification will be across the entire Toyota and Lexus line-ups, it added. Toyota said it is considering making EV batteries with Panasonic to help meet its goal for green cars to comprise half of global sales by 2030.

Executive Vice President Shigeki Terashi said Monday that Toyota's EVs will be first offered in China, a nation that's encouraging electric vehicles with subsidies and other policies, and is expected to drive massive growth in that technology.

By 2025, all models sold globally by the automaker will be either electric vehicles, plug-in hybrids, hybrids, or conventional models that will have electrified versions.


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