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Toyota to increase EV sales by 536% in next 12 months

Toyota to increase EV sales by 536% in next 12 months

Toyota to increase EV sales by 536% in next 12 months

Alongside its announcement that it will be unveiling 10 battery-electric vehicles across various product segments by 2026, Toyota has also stated that it aims to increase sales of its battery-electric vehicles by more than 535% over the coming 12 months, the Japanese manufacturer has revealed at its presentation last week.

This will be part of the 3.843 million sales of electrified vehicles which have been forecast for the 2024 financial year (FY2024), a category which itself will comprise 37% of the 10.4 million vehicle sales forecast across the Toyota and Lexus brands for FY2024.

Of the 3.843 million electrified vehicles which Toyota forecasts to be sold in the 2024 financial year, 3.497 million will be hybrids, 137,000 will be plug-in hybrids, 202,000 will be battery-electric vehicles and approximately 8,000 will be fuel-cell electric vehicles, according to the forecast presented by Toyota CEO Koji Sato.

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Beyond the timeline up to the 2024 financial year, Toyota also previously announced that it will debut 10 new battery-electric vehicles by 2026, which was revealed by Toyota vice president Hiroki Nakajima in April. Among these will be a range of compact cars including sedan models for emerging markets, which could include models for the Malaysian market.

According to the 2023 financial results press briefing presentation last week, these new models scheduled for launch from 2026 will collectively be built on three new platforms – these will be for the body and chassis, the electronics platform and the software platform, according to CEO Sato. These will go towards Toyota’s target of reaching a BEV sales volume of 1.5 million units by 2026.

Further afield in its battery-electric vehicle business, Toyota announced last week that it will restructure its BEV business by abolishing its current zero-emissions vehicle (ZEV) outfit for the establishing of BEV Factory, a new organisation dedicated to EV development and business growth.

The post Toyota to increase EV sales by 536% in next 12 months appeared first on Paul Tan's Automotive News.

* This article was originally published here
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