If you’re looking to buy a promising new EV in the US this year, you might want to hold it off for just a while longer, because Toyota has officially announced that it will be revealing its first set of mass-market electronic vehicles later this year.
On Wednesday, Toyota announced that it would be debuting three new Electronic Vehicles to the US market this year. These will include two BEVs and a PHEV. Toyota has also previously said it’s developing an electric SUV on a new flexible platform that can power multiple EVs, following in the footsteps of Volkswagen, General Motors, and others.
“We continue to be leaders in electrification that began with our pioneering introduction of the Prius nearly 25 years ago,” said Bob Carter, TMNA executive vice president of sales. “Toyota’s new electrified product offerings will give customers multiple choices of the powertrain that best suits their needs.”
Until now, although Toyota has helped pioneer and popularize hybrid vehicles, which lean on electric motors to cut down on emissions and increase fuel economy, it has resisted investing in fully electric vehicles outside of China. The company only ever sold one all-electric vehicle in the US: the Rav4 EV, but only made and sold a few thousand of them.
As per their announcement, by 2025, Toyota’s goal is to have 40% of new vehicle sales be electrified models, and by 2030 expects that to increase to nearly 70%. The company also stated in its blog that, “Between now and 2025, Toyota and Lexus models, globally, will have an electrified option. Toyota is also developing a dedicated BEV platform, e-TNGA, that offers flexibility for all drive configurations. These initiatives are further steps toward achieving the Toyota Environmental Challenge 2050, introduced in 2015, the most demanding and most inspiring environmental commitments Toyota has ever made.”
Toyota’s progress on Challenge 2050 in North America is measured across four key areas – reducing carbon emissions, conserving water, fostering a sustainable supply chain including waste reduction, and protecting biodiversity. Sustainability planning, strategies and actions are driven by an annual North American Environmental Action Plan, with a five-year roadmap modeled to achieve targets in Challenge 2050 and also the United Nations Sustainable Development Goals (SDGs).