Toyota Motor Corp. announced on Friday that it intends to sell 1.5 million electric vehicles annually by releasing 10 different EV models by 2026.
This was stated by the vice president of the company, Hiroki Nakajima during a live-streamed news conference.
The world’s largest automaker has been underwhelming in the fast-changing industry, most notably in electric vehicle sales.
Nakajima stated that Toyota will also establish a specialized unit to develop next-generation EVs, led by one person with “full authority” and in charge of everything from development and production to business.
According to him, the unit’s leader has already been chosen, and more information will be released in May.
Findings revealed that Toyota sold 21,650 battery-powered vehicles in 2022, accounting for only a 0.3 percent market share.
It trails top seller Tesla’s 1.27 million units and runner-up BYD’s 810,600 units.