Toyota is the world’s 5th largest company by revenue… and that’s about to increase for the Japanese automotive manufacturer.
In aim to join global automotive manufacturers and countries in reducing CO2 emissions, Toyota plans to electrify their entire vehicle lineup by 2025. Yes – all vehicle models, that is!
Competing with rivals such as Tesla, Toyota has pledged to place headlight on hybrid vehicles and hydrogen fuel-cell vehicles, and produce 10 purely battery-powered vehicles from 2020 on.
But, will Toyota really be able to completely make hybrid or electric versions of every car it sells by 2025? That’s what they are saying! At a press briefing in Tokyo, the Toyota Motor Corporation also divulged its intent to first place target on China for EV sales; followed by Japan, India, Europe and the United States.
How does Toyota plan to put this shocking announcement into action?
Every Hybrid Vehicle and Electric Vehicle needs a battery, and on that note, the Japanese brand is setting to partner with Panasonic – the world’s largest automotive battery maker – to develop “prismatic” lithium-ion batteries and next-generation battery technologies. Toyota calls it, the “last piece” of a puzzle.
With Toyota’s delay in the EV crack, they have a lot of catching up to do. As a result, they plan to invest approximately $13.3-billion on battery development, with a fixed target of 5.5-million electric vehicles sold annually by 2030.
Is this the end of combustion engine only vehicles?
Now’s the time to sell your petrol or diesel engines before they phase out completely.
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