Toyota is reportedly planning to develop approximately 15 of its own electric vehicle models by the year 2027, with a target of producing around 1 million cars annually. The information was disclosed by the Nikkei newspaper, but Toyota has refrained from commenting as it hasn't been officially announced by the company.

Currently, Toyota has five electric vehicle models that have been developed internally, with production based in Japan and China. The Nikkei stated that expanding manufacturing operations to the United States, Thailand, and Argentina could help mitigate risks related to tariffs and foreign exchange fluctuations, as well as reduce delivery times.

Among the 15 electric vehicle models in the pipeline are some under Toyota's luxury Lexus brand. In a revision of its initial plans, Toyota now anticipates producing approximately 800,000 units by 2026, which is almost half of the original target. Previously, Toyota had set a goal to sell 1.5 million electric vehicles annually by 2026 and 3.5 million by 2030, with these figures serving as benchmarks for shareholders rather than strict targets.

In 2024, Toyota reported global sales of nearly 140,000 electric vehicles, indicating a 30% increase from the previous year. However, these sales accounted for less than 2% of Toyota's total global sales exceeding 10 million units.

(Note: The above information is sourced from the Nikkei newspaper and has been rephrased to avoid plagiarism.)