Toyota to increase EV sales by 536% in next 12 months

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Beyond the timeline up to the 2024 financial year, Toyota also previously announced that it will debut 10 new battery-electric vehicles by 2026, which was revealed by Toyota vice president Hiroki Nakajima in April. Among these will be a range of compact cars including sedan models for emerging markets, which could include models for the Malaysian market.

According to the 2023 financial results press briefing presentation last week, these new models scheduled for launch from 2026 will collectively be built on three new platforms – these will be for the body and chassis, the electronics platform and the software platform, according to CEO Sato. These will go towards Toyota’s target of reaching a BEV sales volume of 1.5 million units by 2026.

Further afield in its battery-electric vehicle business, Toyota announced last week that it will restructure its BEV business by abolishing its current zero-emissions vehicle (ZEV) outfit for the establishing of BEV Factory, a new organisation dedicated to EV development and business growth.