Toyota plans to launch six electric vehicles in Europe by 2026, bringing penetration to 20%

CTOnews.com, December 4, Toyota announced its strategy for its European business today. Toyota said it planned to launch six battery electric vehicles in Europe by 2026, with the goal of making them account for more than 20 per cent of its new car sales in the European market.

Toyota said it was taking action to speed up production of electric vehicles in Europe. In addition to the four electric cars already sold or under development in Europe, the company plans to launch two new models in 2024 and 2025, including an urban SUV concept car and a sports crossover.

Toyota expects to sell more than 250000 battery-powered cars a year in Europe by 2026, Toyota said in a statement.

Toyota's global sales target is to sell 1.5 million electric vehicles annually by 2026. In the first 10 months of this year, Toyota sold about 8.5 million vehicles worldwide, including Lexus, the luxury brand, with electric vehicles accounting for 1 per cent of that.

Their goal is to expand the range of pure electric vehicles (EV) and fuel cell vehicles (FCV) to more than 15 brands by the end of 2026.

CTOnews.com noted that Toyota currently has five EV and one FCV models, while the upscale Lexus brand has two EV models. Lexus plans to be fully electrified by the end of 2035, but it will be advanced to 2030 if European market conditions permit.

In addition, Toyota aims to achieve net zero emissions by the end of 2040 for greenhouse gas emissions generated by business activities such as production and logistics.