Toyota says to launch 10 new battery EV models by 2026

TOKYO (Reuters) -Toyota Motor Corp said on Friday it aims to introduce 10 new battery electric vehicle models by 2026 - a long awaited ramp-up in an area that the Japanese automaker has been slow to embrace.

Toyota will also set up a new, specialised unit to focus on next-generation battery EVs, senior executives said at a briefing, in an apparent response to widening concern that it is losing out to Tesla (NASDAQ:TSLA) Inc and other rivals.

Investors have long argued that Toyota has not been fast enough in developing a battery-powered vehicle line-up, instead favouring hybrids like its pioneering Prius.

Toyota has countered that a mix of options - including gasoline-electric hybrids, makes more sense for its global customer base.

New chief executive Koji Sato said Toyota would speed up in battery electrics but added that hybrids would remain an important pillar of its business.


"In the next few years we will expand our line-up in the important battery electric category," he said, adding the company would take a "practical approach" to popularising electrified cars that included hybrids.

Toyota is targeting annual production of 1.5 million battery-powered cars by 2026, Chief Technology Officer Hiroki Nakajima told the briefing.

Toyota, one of the world's driving auto producers, has reported plans to send off 10 new battery electric vehicle (EV) models by 2026. This denotes a huge change in Toyota's system as the organization has been known for its emphasis on cross breed vehicles, especially its fruitful line of Toyota Prius half and half vehicles. The move towards battery EVs shows Toyota's obligation to tending to the developing worldwide interest for electric versatility and diminishing ozone depleting substance outflows.

The 10 new battery EV models from Toyota are supposed to cover an extensive variety of vehicle types, including cars, SUVs, and hybrids, taking care of various client inclinations and market sections. Toyota means to use its ability in mixture innovation and influence its worldwide assembling capacities to create and deliver these new EVs.

Toyota's declaration is in accordance with the worldwide pattern towards electric versatility as state run administrations all over the planet are executing stricter outflow guidelines to battle environmental change. Numerous automakers are progressively putting resources into electric vehicles as a feature of their drawn out manageability procedures, and Toyota's transition to send off 10 new battery EV models is a critical stage that way.

Toyota has likewise communicated its obligation to proceed with innovative work of hydrogen power device vehicles, which the organization sees as a corresponding innovation to battery EVs, especially for business vehicles and long-range transportation. Toyota has been a trailblazer in hydrogen energy unit innovation with its Toyota Mirai power device vehicle, and the organization's proceeded with center around both battery EVs and energy unit vehicles features its multi-pronged methodology towards feasible portability.

By and large, Toyota's declaration to send off 10 new battery EV models by 2026 mirrors the changing scene of the car business and the rising significance of electric versatility in tending to environmental change concerns. As one of the world's biggest automakers, Toyota's move towards battery EVs is supposed to fundamentally affect the worldwide EV market and the progress towards a more supportable transportation future.