Autos

Toyota CEO announces automaker’s battery EV plans

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The Toyota Motor Corp. logo in the Toyota City Showcase exhibit at the company’s Mega Web car theme park in Tokyo, Japan, on Monday, Nov. 1, 2021.

Kiyoshi Ota | Bloomberg | Getty Images

Toyota, one of the world’s largest automakers, is planning to invest 4 trillion yen ($35 billion) to build a full lineup of 30 battery-powered electric vehicles by 2030.

It aims to also increase global sales of battery electric vehicles by 3.5 million units a year by the end of the decade, CEO Akio Toyoda said Tuesday.

Most of Toyota’s current electric vehicle sales are hybrid electric cars that are powered by a combination of an internal combustion engine and battery-operated electric motors. Battery-only…



Source cnbc.com

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