Toyota to expand EV production to 1m units by 2027

Toyota aims to develop around 15 electric vehicle (EV) models in-house by 2027.

The company is targeting an annual production of approximately 1 million units.

Currently, the automaker manufactures five EV models in Japan and China.

The report suggests that expanding production to locations such as the United States, Thailand, and Argentina may help reduce tariff and foreign exchange risks.

The planned 15 models will include offerings from Toyota’s Lexus luxury brand.

Recent Toyota developments

Timeline
27-Feb-2025 🏙️ Toyota completes first phase of futuristic ‘Woven City’ Toyota’s Woven City phase one completed. 360 residents to move in later this year.
10-Feb-2025 🌱 Toyota to build Lexus EV plant in Shanghai Toyota to build Lexus EV plant in Shanghai by 2027 Focus on green tech, local R&D, and electrified models
31-Jan-2025 🚐 Toyota, Daihatsu, Suzuki to launch joint mini EV vans Mini-commercial EVs to launch in fiscal 2025 Daihatsu’s safety test issue resolved, production resumes
04-Jan-2025 🚖 Toyota-backed Pony.ai plans Hong Kong robotaxi launch Pony.ai plans robotaxi services at HK airport. Company operates over 250 robotaxis globally.
24-Dec-2024 ⚡ Toyota plans to build Lexus EV plant in China: sources

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