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 Corporation now offers no purely electric vehicles (EVs),
although it leads in hybrid models, which switch between an electric
motor and a gas engine.
Executive Vice President Shigeki
Terashi said on 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, Unites States 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 Corporation. 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 realise its 2030 goal,
more than half of it on making batteries.
Other
automakers, including Nissan Motor Corporation, Volkswagen AG and Honda
Motor Corporation, 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 know-how for computer
chips and robotics, which are also expected to be pillars of growth for
the auto sector in coming years.
