Source: Gasgoo
According to Reuters,on Dec. 4, Toyota Motor said it will increase its lineup of all-electric vehicles for the European market to six models by 2026, and expects that all-electric vehicles will account for more than 20 % of new car sales in the region by then.
Toyota electric small urban SUV concept car; Image source: Toyota
Toyota has been lagging behind its competitors in the electric vehicle market. The company is now working to achieve significant growth in the electric vehicle market. Toyota expects to sell more than 250,000 battery-powered vehicles per year in the European market by 2026, the company said in a statement. Toyota’s global sales target is to sell 1.5 million electric vehicles annually by 2026 worldwide. In the first 10 months of this year, Toyota sold about 8.5 million vehicles globally, including sales of its luxury brand Lexus, and electric vehicles accounted for 1 % of that total.
Toyota hopes to be fully carbon neutral in Europe by 2040 and globally by 2050. By 2026, Toyota will offer approximately 15 different Toyota-branded zero-emission vehicles in the European market.
In addition to the bZ4X, an all-electric vehicle currently on sale in Europe, and a compact SUV concept already shown last year, Toyota has unveiled two new electric concepts that it plans to start selling in Europe by 2030.
Toyota Sports Crossover Concept car; Image source: Toyota
Among the two new concept models, one is an electric small urban SUV concept planned to be launched in Europe in 2024, and the other is a sports crossover concept planned to be launched in 2025. Among them, the urban SUV concept car is a design close to mass production. The concept car builds on the success of Toyota’s hybrid-electric Yaris Cross, the best-selling model in its class. In addition to all-wheel-drive configurations, consumers will have a choice of two battery versions to suit budget or range requirements.
Data from the European Automobile Manufacturers’ Association last month showed that sales of all-electric vehicles in the EU rose by more than half in the first 10 months of this year compared with the same period last year. Toyota’s total share of the EU car market ranked fifth this year at the end of October, with its share falling slightly from the previous year to below 7 %.
Toyota also said it will set up a hydrogen-focused business unit in Europe in the hope of commercializing the technology through the development of fuel cell systems and business partnerships to support it. Toyota executives had said in July that the company would focus on selling hydrogen-powered trucks and passenger cars in Europe and China. Toyota sold about 3,500 fuel cell vehicles globally between January and October this year.
