Toyota withdrew from EVs in the U.S. seven years ago when it ceased production of an all-electric version of its best-selling RAV4 crossover sport-utility vehicle. The company sells limited numbers of a fuel-cell-powered sedan called the Mirai, but its executives in the U.S. said as recently as last year that they haven’t seen enough demand to justify a broader lineup of battery-powered models.
The move to expand beyond hybrids represents a reversal of that cautious stance and comes at a time when rivals such as General Motors Co. are planning dozens of EVs and aiming to cease output of gasoline-powered vehicles entirely by 2035.
Toyota said 25% of its new-vehicle sales will be electrified by 2025 — not far from what it expects to sell this year. But it added that the share will rise to almost 70% by 2030. The carmaker is developing a BEV platform called e-TNGA that it can use for multiple models.
The company’s renewed push into all-electrics in the U.S. follows President Joe Biden’s efforts to speed adoption of EVs. Toyota was among the last automakers to withdraw its support for former President Donald Trump’s effort to prevent California from continuing to set its own, tougher, emissions standards.