Koii Sato, the new CEO of oyota, announced at his first press conference his long-awaited plan to electrify the vehicle lineup.
The Japanese automaker, which often describes itself as a mobility company looking to change the future of cars, said it will launch 10 new electric vehicle models by 2026.
Toyota also stated a target of 1.5 million electric vehicle sales per year while strengthening hybrid vehicles to meet its commitment to halve emissions by 2035 and to be carbon neutral by 2035.
“There was no plan for an all-electric future”
“We have to do our best and start electrifying first,” Sato said in his first public speech since taking over as CEO on April 1. In a presentation showing Toyota’s strategy to adopt a multi-pronged approach to carbon neutrality, however, Sato did not fully embrace a 100 percent electric future as many other automakers do.
Toyota’s plan in developed markets is to increase the performance of the bZ series and have a locally produced battery-powered SUV in North America by 2025.
The automaker plans to add two locally developed electric models in China by 2024. Toyota will also focus more broadly on battery-powered pickup trucks and compact electric cars in Asia.