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December 16, 2021

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Toyota to invest $70 billion globally in electrified vehicles

Akio Toyoda, global president of Toyota Motor Corp., recently shared his vision for the future of mobility.

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 customers.

Toyoda shared several targets, including:

• By 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 other segments.

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.

To learn more about Toyoda’s vision for the future of mobility, you can view a replay of the media briefing, below.

You can find the video, script and additional photos, here: https://global.toyota/en/newsroom/corporate/36428993.html