In a quiet yet ambitious push towards the electric future, Toyota is reportedly gearing up to roll out around 15 electric vehicle (EV) models by 2027, with plans to ramp up production to 1 million units per year, according to a Nikkei report.
While Toyota hasn’t officially confirmed the figures—opting for a “no comment” stance—the direction is clear: the automotive giant is accelerating its electric evolution.
As of now, Toyota has five EV models, developed in-house and manufactured exclusively in Japan and China. But that could soon change. The company is said to be eyeing production expansion into the U.S., Thailand, and Argentina. The strategy is aimed at reducing tariff risks, managing foreign exchange volatility, and delivering cars faster to key markets.
Interestingly, the upcoming 15 EVs will include models under Lexus, Toyota’s luxury badge—hinting that style and performance won’t be left behind in the electric shift.
However, the road has its turns. While Toyota once projected 1.5 million EV sales by 2026, that number now sits closer to 800,000 units, according to Nikkei. That’s a recalibration—but not a retreat.
In 2024, Toyota sold nearly 140,000 EVs, marking a 33% increase from the previous year, although EVs still make up less than 2% of its total global sales. It’s a slow but steady climb—and one that shows Toyota isn’t rushing, but rather building a thoughtful, long-term game plan.
