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Toyota, lagging rivals, outlines plans to expand sales of EVs
Financial Express Mumbai
|December 25, 2021
TOYOTA, THE WORLD'S largest carmaker, belatedly joined the electric vehicle (EV) bandwagon on Tuesday, saying it hoped that by the end of the decade battery-powered cars would account for onethird of sales and almost all of the sales of its Lexus luxury brand.
The Japanese automaker pioneered hybrid vehicles that use electric and gasoline motors, but it has been slower than rivals like Volkswagen, GM and Ford Motor to sell cars that run solely on batteries. GM aims to phase out gasoline-powered vehicles in favour of electrics by 2035.
Toyota said Tuesday that one of its factories in Japan is gearing up to begin producing an electric sport-utility vehicle developed with Subaru called the bZ4X. (BZ stands for beyond zero.) The vehicle will go on sale early next year,Akio Toyoda, the president of Toyota Motor Corporation, said at an event in Tokyo.
This story is from the December 25, 2021 edition of Financial Express Mumbai.
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