Toyota to debut 10 new EVs by 2026 – VP Nakajima

Within one week of taking up his role as president and CEO of Toyota, Koji Sato has pledged to pursue electrification “in a practical manner,” he said in his first public speech in his role.

The Japanese manufacturer announced at the end of January this year that Sato succeeds Akio Toyoda from April 1, who helmed the company since 2009. Then-president and CEO Toyoda led the Japanese giant’s unveiling of 16 EVs in December 2021.

“We will thoroughly implement electrification that can be done right now. We will move forward in a practical manner with electrification to cut CO2,” Sato said according to Nikkei Asia.

Meanwhile, the Japanese automaker will debut 10 new fully electric vehicles by 2026, contributing to an annual sales volume of 1.5 million vehicles, according to Toyota vice president Hiroki Nakajima.

Toyota will also create a special unit for the development of next-generation EVs, and this will be led by one person with “full authority” who will be in charge of all aspects ranging from development and production to business, Nakajima added. The leader of this unit has already been decided, with more details to be announced next month, he continued.

Last year, Toyota sold 21,650 battery-electric vehicles and thus accounting for just 0.3% of the market, Nikkei Asia cited data from S&P Global Mobility. For comparison, all-EV maker Tesla sold 1.27 million vehicles and thus holds the position of best-seller, while BYD was second with 810,600 units sold, according to the report.

Toyota identified “much room for improvement” through the development of its battery-electric bZ4X, and the experience brought “a lot of learning” including in the technical points of EVs such as on the enhancing of performance, drivability and battery management, as well as the need to rethink its business structure.

Leading the electrification push for the wider Toyota group is Lexus, its luxury brand which will roll out a next-generation battery-electric vehicle by 2026, Sato said in February this year. Meanwhile, the manufacturer aims to debut two more models next year in China, where the two will be locally developed, according to the report.

The Japanese automaker is “proceeding as scheduled” with its aim of selling 3.5 million EVs by 2030, Toyota EVP of business planning Yoichi Miyazaki told Nikkei Asia. It will consider the situation applicable to each region and “attentively respond to promote the use of as many battery EVs as possible,” while continuing to offer hybrids and plug-in hybrids.

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