Toyota expands plans for BEVs
- December 15, 2021
Canadian shops currently serving the Toyota brand should expect an increasing focus on battery electric vehicle (BEV) offerings over the next decade based on the promises made this week by the global president of Toyota Motor Corp., Akio Toyoda, as he shared his vision of the company’s future.
Toyota will expand its BEV lineup so that it is offering 30 BEV models across the Toyota and Lexus brands globally by the end of the decade, Toyoda announced at an international press briefing. With this expanded BEV lineup, Toyota and Lexus will be offering BEVs in all automotive segments, including sedans, SUVs, and commercial vehicles. It is looking to generate global sales of 3.5 million BEV vehicles annually by 2030.
The expansion in Toyota’s plans for BEV production is in addition to it continuing to develop hybrids (HEVs) plug-in hybrids (PHEVs), and fuel-cell electric vehicles (FCEVs). Overall Toyota plans to invest approximately USD $70 billion globally in electrified vehicles including HEVs, PHEVs, FCEVs and BEVs. Of that amount about USD $35 billion will be invested specifically into BEVs, starting in 2022 through 2030.
The Lexus brand in particular will expand its focus on BEVs as currently 85% of Toyota’s electrified vehicles sold in North America are Toyota-branded models. By 2030 Lexus is looking to have a full lineup of BEVs in all vehicle segments and to have BEVs account for 100 per cent of vehicle sales in North America, Europe and China,” Toyoda said.
“We need to reduce CO2 emissions as much as possible, as soon as possible,” Toyoda said adding that in doing so it is difficult to make all customers happy with a one-size-fits-all option.
“That is why Toyota wants to prepare as many options as possible for our customers around the world,” Toyoda said. “…One might think it would be more efficient to focus on fewer choices. However, we believe that quickly adapting to changes in the future is more important than trying to predict the future, which is uncertain. That is why we want to keep options available for our customers until the right path is clear.”
Toyota established its Electric Vehicle Development Division back in 1992 and introduced the RAV4 EV to the market in 1996. The company started a division to research, develop and produce batteries inhouse back in 1996 and started to accelerate the development of lithium-ion batteries in 2003.