Toyota to speed up EV production, aims for over 600,000 units in 2025 – Nikkei

TOKYO (Reuters) – Toyota Motor plans to ramp up production of electric vehicles (EVs) under its Toyota and luxury Lexus brands, according to a report by the Nikkei newspaper on Friday.

The Japanese automaker aims to increase the production of battery-powered vehicles in the coming years, with a target of producing more than 600,000 units annually by 2025, the Nikkei reported.

No comment was immediately available from a Toyota spokesperson.

Toyota’s move to accelerate its EV production comes as it faces increasing pressure to reduce its carbon footprint and meet stricter emission regulations worldwide.

The automotive industry is experiencing a significant shift towards electric mobility, as countries set ambitious targets for reducing greenhouse gas emissions. Toyota has been trailing behind its competitors, such as Tesla, in EV production and market share, but the company has recently shown more commitment to catch up.

In recent years, Toyota has announced partnerships with battery manufacturers and invested heavily in research and development for EV technology.

Toyota’s plans to boost its EV production capacity align with its long-term goal of achieving carbon neutrality by 2050.

The company aims to make all its models electric or hybrid by 2025, as part of its efforts to contribute to a more sustainable future for the automotive industry.

As automakers race to meet the growing demand for EVs, Toyota’s expansion plans will play a crucial role in shaping the future of the electric automotive market.

With the expected increase in production, Toyota aims to strengthen its position in the EV market and improve its competitiveness against other industry players.

Toyota’s commitment to accelerating its EV production underscores the global trend towards electrification, as consumers increasingly prioritize clean transportation solutions.

Overall, Toyota’s ambitious plans reflect the company’s determination to transition towards a more sustainable and environmentally friendly future.