While most auto manufacturers are just starting to dip their toes into the electric vehicle (EV) market, Toyota jumped into the deep end.
There is no question that Toyota is looking to go big by investing $35.2 billion to produce 30 fully electric models by 2030. This is quite the jump from the previous plan to have 15 new models by 2025.
The World Wants Electric Options
Many nations around the world announced new energy policies at the recent COP26 summit. As world leaders adopt new, eco-friendly policies, Toyota decided to update its own goals and policies.
Toyota is banking on the idea that EVs will be great for countries that already have a built-out infrastructure for charging. It is also looking at countries that can build and charge vehicle batteries with electricity from more renewable sources. Areas of the world that don’t fit these conditions will have more hybrid options put into circulation.
European carmakers have already been releasing mass-market EVs, but Toyota is going to quickly catch up to the competition. It may have seemed like this brand was being shy at first, but this world-leading automaker is shifting gears and diving in headfirst.
A Real Commitment
While several global automotive brands have committed to releasing new EV options, none jumping into the game quite like Toyota is. Nissan, for example, is looking to invest about $17.5 billion into developing EVs. Volkswagen is throwing in $58.6 billion towards the same goal.
Toyota has committed to $35.2 billion to start getting the EV production started. Another $35 billion is going towards developing hybrid and fuel-cell (hydrogen) vehicles. Toyota is also investing $1.29 billion into an automotive battery manufacturing plant in North Carolina.
Toyota’s goal is to produce and sell 3.5 million eco-friendly vehicles each year before the end of this decade. The luxury arm of the Toyota brand, Lexus, also plans to have a full lineup of EVs ready to go by 2035.
It Starts Today
Drivers who don’t want to wait until the end of the decade for lower-emission Toyota vehicles still have plenty of options. The current model year has plenty of hybrid and plug-in hybrid versions of their favorite Toyota vehicles like the Prius, Corolla, Sienna, RAV4, and more.
In the near future, drivers will be able to take home the brand-new BZ4X, an all-electric SUV. This environmentally conscious SUV had an updated design, tons of futurist tech, and incredible capability. The BZ4x is expected to have up to 250 miles of driving range on a single charge. You can also look forward to the i-FORCE Max hybrid pickup truck that utilizes a twin-turbo V6 engine with an electric motor to produce 437 horsepower.
The future of Toyota EVs is looking brighter every day, but it starts today. Stop by your local Toyota dealer to learn more.
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