Toyota's Blueprint for Electric Vehicles: Insights from a Press Q&A Conference
Toyota Revises Electric Vehicle Sales Forecast for 2030
In a significant move, Toyota has increased its sales forecast for battery electric vehicles (BEVs) from 2 million to 3.5 million units by 2030. This revision, according to Toyota's President Akio, is a response to the growing demand for electric vehicles, regulatory requirements, technological advancements, market competition, and strategic business decisions.
The surge in demand for BEVs is driven by various factors, including stricter environmental regulations, rising fuel costs, and increasing consumer acceptance of electric vehicles. Many countries have set ambitious targets for the electrification of transportation, and automakers like Toyota are required to expand their BEV production to meet these objectives.
Technological advancements in battery technology have improved the range and efficiency of BEVs, making them more appealing to consumers. The intense competition in the automobile industry may also be a factor, as Toyota seeks to gain market share and establish itself as a leader in the electric vehicle market.
Toyota's commitment to diversity is reflected in its wide range of vehicles, including passenger cars, commercial vehicles, daily use vehicles, and luxury cars, catering to diverse customer needs worldwide. The company's full-lineup strategy is a result of this commitment.
Akio also emphasised that the targets for carbon neutrality announced so far are for 2040 or 2050, and Toyota's current announcement is more focused on the near term, running up to 2030. Meanwhile, the president of Lexus, Sato, has expressed high expectations for the future, aiming for 100% BEV sales by 2035.
Toyota is making serious efforts to achieve carbon neutrality, but the company recognises that it cannot control the energy situations in each country and the availability of clean energy and charging infrastructure. To maintain its full-lineup strategy, Toyota is working on two areas: making the development process more efficient and clarifying the role of each brand within the company.
The revision in the sales forecast was prompted by changes in market conditions, such as the recent executive order in the U.S., and the realisation that a higher level of carbon-neutral vehicle sales could be achieved than previously anticipated. Sato believes that BEVs will provide Lexus with an opportunity for a more exciting future, and that BEVs are a catalyst for making cars more fun and enjoyable.
However, concerns have been raised about the potential loss of 1 million jobs in the automotive industry if all new car sales become 100% BEVs in Japan. Akio, as the chairman of the Japan Automobile Manufacturers Association (JAMA), has expressed these concerns.
In addition, Lexus has announced a target of 1 million units of BEV sales by 2030. The speakers at the event highlighted the importance of Toyota's multi-solution strategy while strengthening BEVs, and Toyota remains committed to offering a wide variety of options for its customers.
