On April 7, according to Nikkei News, Toyota has formulated a more aggressive electric vehicle 

development plan. The plan aims to independently develop about 15 electric vehicle models 

by 2027 and establish production bases across Japan, China, the Americas and Southeast Asia 

to further expand its share in the global electric vehicle market.

As one of the world's largest automakers, Toyota's electric vehicle production increase plan has 

attracted much attention. It is reported that the company plans to increase electric vehicle 

production to about 1 million by 2027, which will be seven times the production in 2024. At 

present, Toyota has independently developed 5 electric vehicles and mainly produces them in 

Japan and China. However, in order to cope with changes in market demand in the future, 

Toyota has decided to expand its production network to the United States, Thailand and 

Argentina.

It is worth noting that among the 15 upcoming electric vehicle models, some models of the 

Lexus luxury brand will be included. However, despite Toyota's expectations for the electric 

vehicle market, its current production and sales data still appear relatively conservative. It is 

understood that Toyota sold nearly 140,000 electric vehicles worldwide in 2024, an increase 

of about one-third over the previous year, but this figure accounts for less than 2% of the 

company's total global sales. Toyota's global sales in 2024 exceeded 10 million.

In addition, Toyota has previously stated that it plans to sell 1.5 million electric vehicles per 

year by 2026 and reach a sales target of 3.5 million by 2030. However, these figures are 

defined as benchmarks for shareholders to refer to, rather than clear targets.