Toyota CEO presents strategies for electric vehicle (EV) business – GreentechLead

Toyota CEO Koji Sato has presented the automobile company’s strategies in the electric vehicle (EV) business. Toyota Motor will introduce 10 new battery-powered models and target sales of 1.5 million EVs a year by 2026, aiming for steep growth in a market where it has long been lapped by rivals. The world’s largest automaker by sales will set up a new, specialized unit to focus on next-generation battery EVs, senior executives said at a briefing on Friday. Toyota, including its Lexus luxury brand, now has just three battery models on the market and last year sold fewer than 25,000 of those worldwide. “In the next few years we will expand our line-up in the important battery electric category,” Toyota CEO Koji Sato told the briefing, his first in the top job. EVs are now expected to make up more than half of total worldwide vehicle production by 2030. Toyota also said it would increase production in the United States, where the growth in EVs is outpacing that of the overall market. Toyota’s target of selling 1.5 million BEVs a year in 2026 was 25 percent higher than a 1.2 million battery-powered units it was expected to sell by then according to
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