Toyota planning 10 purely electric vehicles by 2020s

In this Nov. 13 photo, visitors walk at a Toyota showroom in Tokyo. Toyota plans to offer more than 10 purely electric vehicle models in its lineup by the early 2020s, marking the Japanese automaker's commitment to that growing technology sector. Toyota Motor Corp. now offers no purely electric vehicles, although it leads in hybrid models, which switch between an electric motor and a gas engine.(AP Photo/Koji Sasahara)
In this Nov. 13, 2017 photo, visitors take a look at a Toyota car at its showroom in Tokyo. Toyota plans to offer more than 10 purely electric vehicle models in its lineup by the early 2020s, marking the Japanese automaker's commitment to that growing technology sector. Toyota Motor Corp. now offers no purely electric vehicles, although it leads in hybrid models, which switch between an electric motor and a gas engine. (AP Photo/Koji Sasahara)

TOKYO — Toyota plans to offer more than 10 purely electric vehicle models in its lineup by the early 2020s, marking the Japanese automaker's commitment to that growing technology sector.

Toyota Motor Corp. now offers no purely electric vehicles, although it leads in hybrid models, which switch between an electric motor and a gas engine.

Executive Vice President Shigeki Terashi said Monday that Toyota's EVs will be first offered in China, a nation that's encouraging electric vehicles with subsidies and other policies, and is expected to drive massive growth in that technology.

Terashi says Toyota's EVs will also later be offered in Japan, India, the U.S. and Europe.

The company says that by about 2025, every model it sells will have some kind of "electrified" version, such as hybrid, electric or fuel-cell.

Last week, Toyota announced it will set up a joint auto battery business with Japanese electronics maker Panasonic Corp. Terashi stressed the deal with Panasonic is "a crucial piece" in Toyota's strategy, and that it wanted to promote a Japanese partnership.

Advances in battery technology are vital for the success of EVs. A major shift toward their use would require more use and recycling of the rare and expensive materials used in batteries, such as lithium.

Toyota announced other goals on green vehicles. By about 2030, it hopes to sell 5.5 million electrified vehicles a year. Toyota sells about 10 million vehicles globally a year.

The company said it will invest 1.5 trillion yen ($13 billion) to realize its 2030 goal, more than half of it on making batteries.

Other automakers, including Nissan Motor Co., Volkswagen AG and Honda Motor Co., offer or are working on electric vehicles. That means competition among battery makers is heating up. It is unclear whether Panasonic will emerge the victor in the race.

Toyota has generally sought to develop key technologies in-house, rather than purchasing them from outsiders. That includes knowhow for computer chips and robotics, which are also expected to be pillars of growth for the auto sector in coming years.

___

Follow Yuri Kageyama on Twitter at https://twitter.com/yurikageyama

Her work can be found at https://www.apnews.com/search/yuri%20kageyama

People also read these

China's Huawei posts slower first-half revenue growth

Jul 27, 2017

China's Huawei Technology says first-half revenues at telecom gear, smartphone businesses expand at...

Chinese bitcoin exchange announces it is ending trading

Sep 15, 2017

One of China's biggest bitcoin exchanges says it will stop trading following reports regulators...

EU Chamber warns China: Open economy faster or risk backlash

Sep 19, 2017

A business group is urging China to carry out promises to open its economy and warned inaction...

House fire in southern Beijing suburb kills 19, injures 8

Nov 19, 2017

A fire at a 2-story building advertising low-cost rental apartments in a southern Beijing suburb...

Survey: US firms losing confidence in China business climate

Dec 6, 2017

Survey finds U.S. companies' China sales improving but outlook clouded by policies and regulatory...

AseanCoverage is a next-gen news site focusing exclusively on online news from South East Asia.

Contact us: sales[at]aseancoverage.com