Toyota President Akio Toyoda announced today in Japan that the company will roll out 30 Battery Electric Vehicles and is anticipating sales of 3.5 million BEVs globally by 2030. The Lexus brand aims to have BEVs account for 100% of total sales in Europe, North America, and China by 2030, which given the current regulatory pace is the price of survival for all major automakers. Toyota Motor overall will offer a full lineup of battery EVs in the passenger and commercial segments. (EU Gets Tougher on Climate Change – Wants All EVs by 2035; Climate Change Car Wars – GM to Reach 100% Renewable Energy in 2025)
This is a sweeping claim, emulating GM’s breakthrough EV announcement in January, is by a giant company that sells more than 100 models of engine-only vehicles, hybrid electric vehicles, plug-in hybrid electric vehicles, and fuel cell electric vehicles in more than 170 countries and regions under the Toyota brand. The Lexus brand has more than 30 models of engine-only vehicles, hybrid electric vehicles, and plug-in hybrid electric vehicles in more than 90 countries and regions. (Environmental About Face – General Motors Ditching Internal Combustion Engines by 2035. Carbon Neutral by 2040?)
Toyota plans to invest ~$70 billion globally in electrified vehicles including HEVs, PHEVs, FCEVs and BEVs. Of that amount, approximately $35 billion will be invested in BEVs starting in 2022 through 2030. In North America, Toyota has, arguably, been the industry leader in electrified vehicles for 21 years. In 1997, Toyota launched Prius, the world’s first mass-production hybrid electric vehicle. Development of battery EVs had started before that in 1992 with the Electric Vehicle Development Division that brought he RAV4 EV to the market in 1996. During the past 26 years, Toyota has invested ~1 trillion yen and produced more than 19 million batteries.
To-date, ~85% of Toyota’s electrified vehicles sold in North America are Toyota-branded models. Keeping pace with the changing tastes of luxury consumers, by 2030, Lexus aims to have a full line of BEVs in all vehicle segments. (SEC Starts Task Force on Climate Change Investment Risks)
“I believe that achieving carbon neutrality means realizing a world in which all people living on this planet continue to live happily,” Toyoda said. “We want to help realize such a world. This has been and will continue to be Toyota’s wish and our mission as a global company. For that challenge, we need to reduce CO2 emissions as much as possible, as soon as possible.”