Toyota will allocate 70,000 million dollars to electrification

Toyota has committed 8 trillion yen ($ 70 billion) to electrify its cars by 2030, half of it to develop a line of battery electric vehicles (BEVs), as it seeks to tap into a growing market for zero-emission cars.

But the world’s largest automaker, which is relatively late when it comes to fully electric cars, said it expected annual BEV sales to reach just 3.5 million vehicles by the end of the decade, or about a third of that amount. your current vehicle sales.

That’s less than its biggest rivals, such as Europe’s No. 1 automaker Volkswagen, which in July predicted that half of its global vehicle sales will be battery-powered cars by that date.

Speaking at a press conference in Tokyo surrounded by more than a dozen planned BEV models, Toyota CEO Akio Toyoda said his company was still pursuing a multi-pronged carbon reduction strategy that also includes hybrid cars. and hydrogen-powered vehicles.