Toyota is doubling down on its electric future. The carmaker, famous for pioneering hybrid technology with the Prius, now aims to bring 15 fully electric vehicles (EVs) to its lineup by 2027. This ambitious plan covers both Toyota and Lexus brands, with the company targeting a significant increase in its annual EV production—about 1 million units globally.
Expanding Production Across the Globe
To meet these goals, Toyota is expanding its EV manufacturing footprint. The company already produces electric vehicles in Japan and China, but it’s now moving production to the U.S., Thailand, and Argentina, which will help mitigate risks like tariffs and currency fluctuations. By late 2025, Toyota plans to begin producing an electric version of its popular Hilux pickup truck in Thailand, with additional assembly in Argentina.
Toyota And Lexus Will Launch 15 EVs By 2027 And That’s Just The Start #car #auto #cars https://t.co/f8RT3nWnQ3 pic.twitter.com/wpiZ5TczwT
— Carscoops (@Carscoop) April 8, 2025
New Models on the Horizon
Among the new EVs Toyota is planning, a standout is a three-row electric SUV that will be built in Kentucky and Indiana starting in 2026. This model aims to compete with popular options like the Kia EV9 and Hyundai Ioniq 9. Additionally, Toyota is teaming up with Subaru to develop a new electric SUV, set to start production in Japan in 2026.
Overcoming Challenges
Despite these big plans, Toyota is still catching up with competitors like Tesla and BYD. In 2024, Toyota sold just under 140,000 EVs, which is a small fraction of its total sales. In comparison, Tesla and BYD sold more than 1.7 million EVs each last year.
A Long-Term Vision
Toyota has adjusted its short-term EV sales targets, scaling back its 2026 forecast to around 800,000 EVs—about half of its original goal. However, the company is staying committed to its long-term vision, aiming to sell 3.5 million EVs annually by 2030.
Toyota’s shift to electrification is a bold move, and while it faces tough competition, its strategy to innovate and expand production shows the company’s dedication to sustainable mobility and a greener future.
