Launch 30 models in 10 years! Toyota spends 35 billion U.S. dollars to develop electric vehicles

Toyota Motor announced at a press conference on its battery electric vehicle strategy that it will invest 4 trillion yen (35 billion U.S. dollars) to develop electric vehicles by 2030. The goal is to sell 3.5 million electric vehicles globally by then.

It is also hoped that by 2030, Lexus, its luxury brand, will achieve 100% of its pure electric vehicle sales in Europe, North America and China; by 2035, it will achieve 100% globally. In addition, Toyota has also invested 4 trillion yen in other types of electric vehicles, including hydrogen-powered, hybrid, plug-in, and fuel cell models.

With the increasing penetration rate of new energy vehicles, the trend of vehicle electrification is unstoppable. For traditional automakers, it seems that there are only two choices at the moment, either follow the trend or be abandoned by the times. Toyota, as the world's largest automaker, certainly understands this truth.

In order to achieve the goal of electrification, Toyota has made long-term investments in various fields. In 1992, Toyota established an electric vehicle development department, and in 1996 launched the RAV4 EV to the market; in 1997, Toyota launched the world’s first mass-produced hybrid car, the Prius; in 2000, Toyota demonstrated its small commuter electric car Prototype "e-com"; in 2012, Toyota launched "COMS", an ultra-compact electric car, and a small "eQ" electric car.

In 2021, Toyota launched the "C+pod" and "C+walk". In Japan, Toyota has begun to sell its compact electric car C+pod to corporate customers.

In addition, Toyota Motor Corporation said it expects to invest more than 87.2 billion yuan by 2030 to develop batteries and battery supply systems, including next-generation lithium-ion batteries and solid-state batteries, in order to lead this key automotive technology in the next decade.

Toyota’s chief technology officer Masahiko Maeda said that Toyota’s goal is to reduce battery costs by 30% or more by improving battery materials and battery structure. It is expected to cut battery costs by half around 2050 and establish a total of 70 electric vehicle production lines. .

At present, many countries around the world are actively introducing relevant industrial policies and regulations to improve the electric vehicle industry chain, accelerate the promotion of electric vehicles, and promote low-carbon and environmentally friendly travel. Major auto companies and battery companies are ramping up their horsepower to deploy the new energy vehicle market.