Toyota's Ambitious Plans for Electric Vehicles

Toyota plans to increase the electric range of its future plug-in hybrids beyond 124 miles, develop next-generation EVs with double the range, and expand hybrid sales to emerging markets. The company aims to cut the average CO2 emissions of the vehicles it sells worldwide by 33% by 2030 and by more than 50% by 2035, versus 2019. Toyota will make a three-row SUV in 2025, with batteries supplied from North Carolina, and release a new generation of EVs in 2026 that will double driving range by using batteries with far greater efficiency.