Toyota promised this Tuesday (14) an investment of 8 trillion yen (US$ 70 billion, R$ 395.1 billion) in electric cars by 2030, with half of this amount destined to the development of a line of vehicles to battery (BEV).
But the world’s biggest automaker projects annual sales of BEVs to reach just 3.5 million vehicles by the end of the decade, or about a third of its current sales, less than European rivals like Volkswagen estimate.
Toyota Chief Executive Akio Toyoda said at a press conference in Tokyo that his company is still pursuing a multifaceted carbon reduction strategy that also includes hybrid cars and hydrogen-powered vehicles.
“We want to leave everyone with a choice and instead of where or what we’re going to focus on, we’re going to wait a little longer until we understand where the market is going,” Toyoda said.
The company plans to launch a full lineup of 30 BEVs by 2030, more than the 15 models previously announced for 2025. The automaker also said it plans to invest 2 trillion yen in battery production by 2030, up from 1.5 trillion yen previously announced.
That investment includes $1.29 billion (BRL 7.2 billion) in a new battery plant in the US state of North Carolina, which will start production in 2025.
Electric vehicles still represent only a small part of industry sales, but the market is growing rapidly, with new license plates rising 41% in 2020, even as the global auto market contracted by a sixth that year.
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