Toyota announced its European business strategy today. Toyota said it plans to launch six battery-electric vehicle models in Europe by 2026, aiming for such vehicles to account for more than 20% of its new car sales in the European market.
Toyota said it was taking action to accelerate electric vehicle production in Europe. In addition to the four electric vehicles already on sale in Europe or under development, the company plans to launch two new models in 2024 and 2025, including an urban SUV concept and a sports crossover.
Toyota said in a statement that it expects to sell more than 250,000 battery-powered vehicles annually in Europe by 2026.
Toyota’s global sales target is to reach annual global sales of 1.5 million electric vehicles by 2026. Electric vehicles accounted for 1% of Toyota’s global sales of about 8.5 million vehicles in the first 10 months of this year, including sales of luxury brand Lexus.
Their goal is to expand the range of pure electric vehicles (EV) and fuel cell vehicles (FCV) to more than 15 models under the “Toyota” brand alone by the end of 2026.
It is noticed that Toyota currently has 5 EV and 1 FCV models, and the high-end brand “Lexus” has 2 EV models. Lexus plans to electrify its entire fleet by the end of 2035, but could move it forward to 2030 if European market conditions allow.
In addition, Toyota strives to achieve net-zero emissions by the end of 2040 for greenhouse gas emissions generated from business activities such as production and logistics.
