Toyota aims to launch two ultra-compact electric vehicles by 2020
Toyota is aiming to get half of its global sales from electric vehicles by 2025 and is looking to launch two two-seater ultra-compact electric vehicles by next year.
Toyota Motor Corporation(Sapporo)
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Faced with higher-than-expected demand for cars that use batteries, rather than gasoline, Toyota Executive Vice President Shigeki Terashi told a briefing on Friday that the Japanese manufacturer is moving ahead with its plans in the electric vehicle (EV) market, which is transforming the auto industry.
“We consider ourselves as a maker of electric vehicle batteries, going back to when we developed the battery for the Prius,” he said, referring to the pioneering gasoline hybrid.
“But there may be a gap between the amount of batteries we can produce, and the amount of batteries we may need.”
Hence, the company plans to partner with China’s Contemporary Amperex Technology for battery procurement.
It also announced the expected launch of two two-seater ultra-compact models designed for short-distance trips, with a maximum speed of 60 km (37 miles) per hour and 100 km range on a single charge.
The automaker expects to achieve its goal of selling over 5.5m electrified vehicles annually, including hybrid models, by 2025.
However, Terashi noted that while demand for EVs accelerates, profitability will be slower to arrive since it’s still a challenge to create a profitable business for them.