Shulou(Shulou.com)11/24 Report--

Thank you, Mr. Air, a netizen of CTOnews.com, for your clue delivery! Japanese carmaker Toyota plans to launch 10 new electric vehicles by 2026, with a sales target of 1.5 million vehicles a year, according to news on April 7. Toyota hopes to take the lead in the electric car market, where it has long lagged behind its competitors.

Toyota, the world's largest carmaker by sales, will also set up a dedicated department to focus on the next generation of electric vehicles. At a briefing on Friday, company executives elaborated on the plans of their new leadership team.

Toyota and its luxury brand Lexus currently sell only three electric vehicles on the market, compared with less than 25000 worldwide last year.

Investors and environmental groups criticized Toyota for being too slow to enter electric vehicles and that it had lost out to competitors such as Tesla, who were quick to dominate the market.

But Toyota retorts that electric cars are only an option for car owners and that its groundbreaking hybrid models such as the Prius are a more practical option for some markets and drivers.

"in the next few years, we will expand our product line in the important field of electric vehicles," Chief Executive Henji Sato announced at his first presentation. " But hybrid models will remain an important pillar, he added.

The market predicts that electric vehicles will account for more than half of the world's total car production by 2030.

Meeting that demand is crucial for Toyota, which also said it would increase production in the United States, where electric vehicles are growing faster than the overall market.

Toyota reported that sales in the US fell by nearly 9 per cent in the first quarter. GM's sales, by contrast, rose 18%, thanks to greater demand for electric vehicles from corporate fleets and commercial customers.

According to S & P, Toyota and Honda are the main buyers of electric cars in the United States.

"now that Toyota is falling behind, more and more Americans are starting to realize that it is on the way to the next big leap in innovation," said Easter Peterson-Trujillo, a clean vehicle activist from the non-profit group Civic good, in an interview before the presentation.

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