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| Toyota's electric car plan is getting bigger and more expensive |
Toyota is ramping up its plans to produce electric cars. He has pledged to bring 30 electric cars to market by 2030 instead of the electric cars he previously promised by 2025.
The Japanese automaker has also committed to selling 3.5 million fully electric vehicles worldwide by 2030. Lexus is set to become an electric vehicle brand by 2035.
The company says it is investing 2,000 billion yen ($17.6 billion) in car battery technology. This is an increase from previous pledges of 1.5 trillion yen ($13.6 billion).
As an electrification pioneer, Toyota paved the way for companies like Tesla by demonstrating that alternative cars could be commonplace. But the company has since fallen far behind its competitors.
Companies such as Nissan, General Motors and Volkswagen have been selling fully electric cars for many years. At the same time, he also revealed his plan to completely abolish gasoline cars.
At the same time, Toyota has not yet launched a long-range electric car. The company's top executives, including billionaire executive Akio Toyoda, have repeatedly described the electric-vehicle trend as hype due to emissions from power plants, among other things.
But the company changed its stance because it needed to reduce exhaust emissions by introducing more electric cars.
Toyota pledged to spend more than $17 billion
Toyoda said, "I believe that achieving carbon neutrality means creating a world in which everyone on the planet can continue to live happily. We want to help create such a world. This is Toyota's desire and our mission as a global company. To meet this challenge, we need to reduce CO2 emissions. carbon as quickly as possible.
As part of the announcement, Toyota showed dozens of concept cars including cars, sports cars, crossovers, SUVs, vans, and even multiple shuttle buses.
The company did not reveal many details about each car. But she confirmed that the planned Lexus sports car will reach 700 kilometers and can accelerate from 0 to 100 kilometers per hour in less than two seconds.
Toyota's first long-range electric vehicle, the BZ4X, is scheduled to hit the US market in mid-2022.
Toyota also plans to spend some of the $17.6 billion in the United States. The company recently announced a $1.29 billion investment in a North Carolina battery plant to invest nearly $13.6 billion in battery technology over the next decade.
But despite Toyota's growing commitment to electric cars, the Washington, D.C. company is still spending a lot of money and lobbying against President Joe Biden's efforts to encourage Americans to buy more electric cars.