According to a Friday article in the Nikkei newspaper, Toyota Motor (7203.T) will increase the manufacture of electric vehicles under its luxury Lexus and Toyota brands.
According to a Nikkei report, the Japanese carmaker will probably increase the volume of battery-powered vehicles it produces over the next few years in order to reach an annual output of more than 600,000 vehicles by 2025.
Toyota Motor chose not to respond to the report.
Previously, the business stated that it aimed to sell 1.5 million EVs annually by 2026 and 3.5 million, or roughly one-third of the current worldwide volume, by 2030. Less than 25,000 EVs, including those from Toyota’s Lexus brand, were sold last year across the globe.
According to Nikkei, it aimed to grow EV manufacturing to around 150,000 vehicles in 2023 and then progressively increase it to the 190,000-vehicle range the following year.
