Toyota Seeks To Grow EV Line-up To 15 Models By 2027

World’s largest automaker Toyota currently offers around five electric vehicle (EV) models, which includes the bZ3x and bZ4x (China only). In 2024, both Toyota and its subsidiary Lexus saw EV sales total at roughly 140,000 units.

Looking ahead, the automaker now reportedly intends to expand this portfolio to 15 models by 2027, starting with the all-electric C-HR+ that debuted recently. The firm has also established a target production volume of one million units per annum within the forthcoming three years.

The automaker's push for EVs may seem counterintuitive given the current global slowdown in EV demand and the reconsideration of electrification strategies by other automakers.

Nevertheless, this drive appears to be prompted by Toyota’s lag in the battery electric vehicle (BEV) market space compared to competitors like Volkswagen, who delivered over 744,000 BEVs in the same period.

In lieu of which, Toyota also revised its forecasts for overall EV production, noting it now anticipates an annual production of approximately 800,000 EVs by 2026. In turn, this constitutes a reduction of over 50% compared to the initial target of 1.5 million EVs per year.


Notwithstanding this adjustment, the Japanese manufacturer remains committed to its long-term EV aspirations, which include an annual production of 3.5 million electric vehicles by 2030.

Toyota's EV production, currently limited to Japan and China, will now expand to the US, Thailand, and Argentina. The US expansion is likely a response to President Trump's import taxes, including a 24% levy on Japanese products and a 25% tax on imported autos. Expanding production sites will also help mitigate foreign exchange risks and shorten delivery times to customers.



The world’s top carmaker will start manufacturing an electric version of the Hilux pickup in Thailand this Oct. This initiative aligns with the local government's goal of 30% of domestic auto manufacturing being electric vehicles by 2030.