Toyota Readies $35B for EVs
December 14, 2021
With the goal of achieving a carbon-neutral society, Toyoda reconfirmed
his commitment to providing solutions and options to as many customers
around the world as possible. In addition to continuing to develop
hybrids (HEVs), plug-in hybrids (PHEVs), and fuel-cell electric vehicles
(FCEVs), Toyota will expand its offering of battery electric vehicles (BEVs),
providing safety, security and convenience for Toyota and Lexus
During the briefing, Toyoda shared several targets, including:
2030, global sales of battery electric vehicles (BEVs) will reach 3.5
million vehicles annually.
By 2030, Toyota will offer 30 BEV models across the Toyota and Lexus
brands, globally, with more on the way.
With this expanded global BEV lineup, Toyota and Lexus will offer BEVs
in all segments, including sedans, SUVs, K-Cars, commercial vehicles and
To reach these targets, Toyota plans to invest approximately $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 been the industry leader in electrified
vehicles for nearly 22 years. To-date, approximately 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 realize a full lineup of BEVs in all vehicle segments, and
to have BEVs account for 100% of vehicle sales in North America, Europe
and China. Lexus buyers will have access to a wide range of vehicles
dedicated to battery electrics that offer safety, security and of
course, Lexus styling.