Tokyo, September 6 (FinanceFlashNews) – Japanese automaker Toyota has slashed its 2026 global production target for electric vehicles (EVs) by a third. According to Nikkei and Reuters, Toyota now plans to manufacture 1 million EVs in 2026, down from its earlier projection of 1.5 million.
Despite this reduction, the revised target remains ambitious for the automaker, which has historically focused on hybrid vehicles. Toyota sold just 104,000 EVs in 2023, representing only 1% of its global sales. The slower-than-expected market for fully electric cars has prompted Toyota, like many other automakers, to adjust its goals.
Toyota EV Production Plans:
| Year | Original Production Target (Million Units) | Revised Production Target (Million Units) |
|---|---|---|
| 2026 | 1.5 | 1.0 |
As the demand for hybrids continues to dominate over fully electric models, this shift reflects Toyota’s response to global market realities.
Keywords: Toyota, EV production, global target, hybrid vehicles, Nikkei, Reuters, electric vehicle sales
