Toyota will also be expanding its current EV lineup, which currently consists of the bZ4X crossover SUV (which required a recall to make sure its wheels don’t fall off) and the Subaru Solterra EV built on top of Toyota’s e-TNGA flexible EV platform. Lexus has yet to release its RZ 450e SUV that’s based on the same platform.
What’s more, the Hyundai Ioniq 6 and the Nissan Ariya, both EVs, are also finalists for the overall 2023 World Car of the Year award. Interestingly the Nissan Ariya didn’t make the final cut for the EV of the Year 🤔. The Kia Niro is a contender for the overall award. The Kia Niro is available as a hybrid, a plug-in hybrid, and a full-time EV.
Other EVs that made the final cut in other categories »
After coming under intense pressure, Toyota has reversed its earlier position and now says it will shift towards EVs. They are now saying they will invest approximately $35 billion on batteries and EVs over the next 10 years.
Toyota has become an electrification laggard, ceding the early lead the Prius hybrid model gave it 25 years ago. Now, after a series of announcements in September and December, it intends to spend $35 billion on batteries and electric vehicles. That’s double Nissan’s recent underwhelming target, but still shy of the 73 billion euros Volkswagen has committed.
Nonetheless, Toyoda now reckons his company can sell 4 million pure electric vehicles a year by 2030 – double the amount forecast just three months earlier. That would be impressive.
He has not, however, let go of Toyota’s love of hybrid engines. These are slated to account for another 4 million vehicles sold in nine years’ time. Toyota is also dabbling in hydrogen technology for passenger cars, even though that’s better suited to large trucks and buses. The carmaker argues such technologies can effectively reduce pollution, and was one of several that refused to support a COP26 pledge to stop selling gasoline-powered vehicles by 2040 read more . It has also lobbied hard against purely electric propulsion requirements and more stringent tailgate emissions standards, the Sierra Club points out.
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