Toyota to introduce 10 new EVs by 2026

Toyota has announced aggressive plans to launch 10 new battery-electric cars in quick succession to ensure that, come 2026, it will reach 1.5 million global EV sales per annum.

That’s up from its previous target of 1.2 million sales by 2026.

The world’s biggest car-maker has set up a specialist unit to help fast-track the launch of its next-generation EVs, which according to Toyota vice-president Hiroki Nakajima are designed to “set hearts racing”.

To prove it, Nakajima’s presentation included a teaser image of a sporty new wedge-shaped Lexus model, which could be the reborn Lexus IS sedan that’s set to rival the top-selling Tesla Model 3.

Currently, Toyota and Lexus offer just three battery-powered cars globally, accounting for 25,000 annual sales combined.

This has led to criticism from investors and environmental groups, and has allowed Tesla and emerging rivals from China to dominate EV sales globally.

Tesla sold more than 1.3 million cars globally last year, up from 936,000 in 2021.

EVs are now expected to make up a least half of Toyota’s global sales by 2030.

New Toyota chief executive Koji Sato told media and investors: “In the next few years we will expand our line-up in the important battery-electric category.”

Toyota hasn’t yet detailed the 10 new EVs in the pipeline, but we already know a three-row SUV for the US market is in the works, plus two further EVs for the Chinese market that will be on sale by 2024.

A small EV and battery-electric pick-up are also coming, with the latter tipped to enter production for late this year.

For everything you auto know about EVs, listen to carsales' Watts Under the Bonnet: the electric car podcast

Join the conversation at 

our Facebook page

Or email us at 

editor@carsales.com.au