[Source/Observer Network, Pan Yuchen, Editor/Gao Shen] According to a report by the "Nikkei Asian Review" on April 7, Toyota Motor plans to introduce approximately 15 self-developed pure electric vehicles by 2027 and aims to increase its pure electric vehicle production to around 1 million units, which is seven times that of 2024. In addition to Japan and China, Toyota also plans to start production in the United States, Thailand, and Argentina.

Toyota Motor, Reuters

Currently, Toyota sells a total of five self-developed pure electric vehicles globally. However, these models were previously only produced in Japan and China. In the future, Toyota plans to expand its production bases to five countries: Japan, China, the United States, Thailand, and Argentina, in order to avoid exchange rate and tariff risks and shorten delivery times.

The "Nikkei Asian Review" reported that under the backdrop of former U.S. President Trump imposing a 25% additional tariff on imported cars, leading to the fragmentation of global economic integration, global companies such as Toyota have begun planning to diversify their supply chains.

Toyota is the largest automaker in terms of sales volume globally. However, compared to traditional competitors, it has been more cautious regarding the transition to electrification. Therefore, despite the slowdown in global demand for electric vehicles last year, Toyota still benefited from its continuously expanding hybrid product line, including in its largest market, the United States.

According to previous reports by Reuters, Toyota stated in March that it will launch nine new electric models in Europe by 2025 and 2026. Among them, three Toyota-branded electric SUVs—bZ4X, Urban Cruiser, and the new C-HR+—will be introduced this year, followed by another three in 2026.

Toyota will also introduce three Lexus-branded pure electric vehicles in Europe within the next year, with the first being the new RZ SUV.

Charging Toyota vehicle, Reuters

In 2024, Toyota's sales in Europe increased by 13.1%, slightly exceeding one million units, with its overall market share increasing by 0.9%. On the other hand, in January this year, sales of pure electric vehicles in Europe grew by 37.3%, accounting for nearly 17% of the market. In contrast, the full-year sales last year declined by 1.3%.

In the world's largest new energy vehicle market, China, Toyota previously collaborated with BYD to launch pure electric vehicles such as the bZ3 sedan. However, due to high prices, the market response was not favorable. In March this year, Toyota collaborated with GAC to launch the Platinum 3X equipped with advanced intelligent driving functions, reducing the starting price to below 110,000 yuan to cope with the intense price war in the Chinese market. Additionally, Toyota plans to launch its first electric sedan equipped with Huawei's car operating software in China this year and introduce lithium iron phosphate batteries between 2026 and 2027 to reduce the production costs of electric vehicles.

Regarding localization of research and development and production, in August 2023, Toyota's largest research and development base in China, "Toyota Motor R&D (China) Co., Ltd.," was renamed "Toyota Intelligent Electric Vehicle R&D (China) Co., Ltd." Engineers from the research and development centers of Toyota's three joint ventures in China will break organizational barriers and join the research projects led by the R&D center.

In terms of electrification, Toyota will strengthen the localization of electric vehicle R&D through a multi-path solution. Moreover, Denso and Aisin, among other parts suppliers, will transcend organizational barriers to accelerate the development of electrified powertrain systems to achieve significant cost reductions in manufacturing.

Additionally, in February this year, Toyota established a wholly-owned company in Shanghai Jingshan for the research, development, and production of Lexus pure electric vehicles and batteries, with plans to commence production in 2027.

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Original source: https://www.toutiao.com/article/7490440179364119075/

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