Toyota's Electrified Vehicle Strategy: Sales of 5.5 million units and 1 million ZEV vehicles by 2030
Investment of 1.5 trillion yen by 2030 in battery R&D and manufacture
2018/04/02
- Summary
- Toyota plans to sell 5.5 million electrified vehicles
- Providing EV for various segments and applications
- Investing JPY 1.5 trillion until 2030 for the R&D and manufacture of batteries
- Toyota's vision of an EV society
- Using EVs to transform society
- Innovation of the EV business by introducing standardized batteries
Summary
This report gives an overview of Toyota's vehicle electrification strategy.
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Small mobility vehicle Concept-i Ride |
On December 18, 2017, Toyota announced its mid- to long-term plan aiming for sales of over 5.5 million electric vehicles by 2030, and a ZEV (EV + FCV = zero emission vehicle) sales target of over 1 million units. By around 2025, Toyota plans to only sell HV, PHV, EV, and FCV models globally, and plans to discontinue the production of all vehicles powered only by internal combustion engines.
A few days before Toyota's announcement, on December 13 Panasonic announced that they will cooperate with Toyota on a joint automotive prismatic battery business. Batteries are crucial to the future of electrified vehicle development. The announcement of the agreement with Panasonic to develop and supply batteries coincides with Toyota's official announcement of their plans to contribute to the popularization of electrified vehicles. Between 2019 and 2030 Toyota plans to invest 1.5 trillion yen solely for the R&D and manufacturing of batteries.
The latter half of this report focuses on the "Toyota's Vision for an EV Society" presentation by Mr. Koji Toyoshima, Chief Engineer, EV Business Planning Office, of Toyota's Technology Development Management Division, which was given at the Battery Japan 2018 Technical Conference on March 1, 2018.
Recognizing the seriousness of the environmental challenges facing society, Toyota's vision involves the construction of a sustainable ecosystem in preparation for the full-scale introduction of EVs. Specifically, Toyota will develop standardized batteries to meet the needs associated with the future popularization of the vehicles. This includes the creation of a social infrastructure system to streamline battery reuse and recycling as well as working with society on the development of renewable energy sources for recharging.
Also, by utilizing standardized batteries, Toyota plans to lower the retail price of new compact EVs to be more competitive with that of ICE-powered vehicles, while significantly increasing the resale value of second-hand EVs.
Related reports:
Toyota Automated Driving: The Guardian and Chauffeur approaches（March 2017）
Tokyo Motor Show 2017: Toyota unveils numerous concept vehicles（November 2017）
Tokyo Motor Show 2017: Exhibits from Nissan, Honda, and Mitsubishi（December 2017）
Nissan's EV Strategy: Introduce EVs in all major vehicle segments by 2022（September 2017）
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