During the 2023 Toyota Financial Results Press Briefing, the company shared a rather interesting detail on its plans for electric vehicles (EVs). While Toyota has previously mentioned that it will debut 10 EVs by 2026, a slide during the presentation suggests 1 sports EV and 2 luxury EVs by 2026. Do take note that the illustrated figures may not represent the actual quantity of the vehicles, and that they could also either be Toyota or Lexus models.
Toyota has also previously mentioned that it targets a 1.5-million-unit base volume for its EV sales in 2026. In the recent financial presentation, Toyota President, Koji Sato said that the focus will be on markets like the United States and China. To cater to the increasing number of its EVs, Toyota will secure its battery supply by “increasing its in-house production capacity” and collaborating with its partners.
Among the 10 upcoming EVs that will be launched by Toyota in 2026, the models range from luxury to SUV, Compact/Sedan, Commercial/MPV, and Sports. In the presentation shared by Toyota, the electric Hilux was depicted under Commercial/MPV while the ‘Toyota bZ compact SUV’ and a ‘3-row SUV’ was depicted under SUV. Toyota will also debut several compact/sedan cars which should be about the size of the Toyota bZ3 sedan which is a China-exclusive model.
Interestingly, 2 silhouettes are outlined under ‘Luxury’ with one being of a shooting brake and the other being of a saloon. Whether the EVs will be branded as Toyota or Lexus models is still unknown. Perhaps the most enticing figure in the presentation slide would be the silhouette of the one ‘Sports’ EV that is set to debut by 2026.
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Previously, Toyota had already unveiled its array of EV concept cars. Among possible bases for the luxury EVs are the ‘Lexus Electrified Sedan’ and ‘Lexus Electrified SUV’. As for the ‘Luxury’ EV, it could take inspiration from the ‘Lexus Electrified Sport’ or even the Lexus Sports EV which appears to be a small and fun sports car.
For the EV models that will debut by 2026, Toyota is set to unveil the concept of these cars this year during “Japan Mobility Show 2023” which will happen in late October. The concept will show the totally renewed vehicle base for Toyota which will be built on three new platforms – a new “Body & Chassis” platform, a new “Electronic” platform, and a “Software” platform. In another slide, Toyota teased a side profile of an EV with a text that read “BEVs only a carmaker can offer”, perhaps jabbing at EV makers which started out as technology or battery companies.
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Toyota may have been late to the EV party, but after revealing its 10 electric concept cars at the end of 2021, it seems that Toyota has taken speedy measures to catch up. Although the push may be strong for EVs, Toyota is still firm on its stance of a “Multi-Pathway” strategy which involves HEV, PHEV, BEV, FCEV, H2, and CN fuels.
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