Hyperdrive
Toyota to Sell 1.5 Million EVs by 2026, Roll Out 10 New Models
- New CEO Sato faces the press for first time since taking reins
- 53-year-old previously led Toyota’s luxury brand Lexus
Koji Sato at a news conference in Tokyo on April 7.
Photographer: Akio Kon/BloombergThis article is for subscribers only.
Toyota Motor Corp.’s new Chief Executive Officer Koji Sato unveiled the beginnings of a long-awaited plan to electrify the automaker’s vehicle lineup during his first press conference, but stopped short of outlining concrete steps about how exactly the company will match its EV rivals abroad.
The Japanese automaker, often describing itself as a mobility company whose wish is to change the future of cars, on Friday said it will release 10 new EV models by 2026 and sell 1.5 million battery electric vehicles annually while “strengthening hybrids and plug-in hybrids” in order to honor its pledge to halve emissions by 2035 and become carbon neutral by 2050.