Toyota to speed up EV production, aims for over 600,000 vehicles in 2025 - Nikkei

Toyota Motor Corporation's bZ SDN is pictured after a briefing on the company's strategies on battery EVs in Tokyo, Japan December 14, 2021. REUTERS/Kim Kyung-Hoon/File photo

TOKYO (Reuters) -Toyota Motor will speed up production of electric vehicles of its Toyota and luxury Lexus brands, the Nikkei newspaper reported on Friday.

The Nikkei report said the Japanese automaker was likely to step up production of battery-powered vehicles over the coming years to reach annual output of more than 600,000 vehicles in 2025.

Toyota declined to comment on the report.

The company has previously said it targets sales of 1.5 million EVs annually by 2026 and 3.5 million, or about one-third of current global volume, by 2030.

Toyota last year sold fewer than 25,000 EVs, including of its Lexus brand, worldwide.

It sought to raise EV production to about 150,000 vehicles in 2023 and gradually increase it further to the 190,000-vehicle range next year, Nikkei said.

(Reporting by Daniel Leussink; Editing by Himani Sarkar and Jane Merriman)

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!


Next In Tech News

Govt to continue blocking morally compromised social media platforms, says Fahmi
GlobalFoundries names chip industry veteran Hollister as CFO
US military spaceplane poised for 7th launch, first atop SpaceX Falcon Heavy
Tucker Carlson's streaming service to charge $9 per month
Crypto market eyes interest rates and expected bitcoin ETFs in 2024
China-led team creates soft ‘octopus’ arm in reach for intuitive human-robot interaction
Nvidia to expand partnership with Vietnam, support AI development - CEO
Apple shutters third-party apps that enabled iMessage on Android
Tesla’s Dojo supercomputer head exits in blow to efforts
TikTok to invest $1.5 billion in GoTo's Indonesia e-commerce business

Others Also Read