Edupreneur Editorial Team7 April 2025
Toyota Motor Corporation is ramping up its electric vehicle (EV) ambitions with a bold new target: the development of 15 fully electric models built entirely in-house by the year 2027. The global auto giant also aims to scale up production to about one million EVs annually by that time, reinforcing its commitment to cleaner mobility and future-focused innovation. This marks a significant expansion from Toyota’s current lineup of five EV models, which are primarily manufactured in Japan and China. To support this growth and navigate global trade dynamics, the company is exploring new EV production hubs in the United States, Thailand, and Argentina. Luxury car lovers can also expect to see several new Lexus-branded electric vehicles as part of Toyota’s evolving EV portfolio. While Toyota has revised its original 2026 target from 1.5 million EVs to around 800,000 units, the brand remains focused on making a long-term impact in the EV space. In 2024, Toyota sold approximately 140,000 EVs worldwide—a 33% increase from the previous year—though EVs still represent a small portion of its over 10 million global vehicle sales. To strengthen its supply chain and production capabilities, Toyota is investing heavily in battery manufacturing. The automaker recently committed an additional $8 billion to its upcoming battery plant in North Carolina, bringing the total investment to over $13 billion and creating more than 5,000 jobs. The facility is expected to begin operations in 2025. These strategic moves reflect Toyota’s renewed focus on electrification as the automotive industry continues its shift toward sustainable, tech-driven transportation solutions. Photo credit: CNN