Toyota aims to sell more EVs than gasoline powered vehicles by 2025.
On Wednesday, the head of Toyota Motor’s Lexus brand stated, the carmaker plans on launching its first all-battery electric vehicle in 2020. The development comes midst a race among luxury car brand to bring battery-operated cars in the market as they compete to develop zero-emission vehicles.
Toyota unveiled its futuristic concept model of its EV hatchback ahead of the Tokyo Motor Show.
In a statement, Lexus International President Yoshihiro Sawa said, the goal for Lexus is to outpace the sales of its luxury gasoline vehicles by those of its electric vehicles, which includes its battery electrics and gasoline hybrids, by 2025.
This model is Toyota’s first full-sized, battery operated passenger car. It marks the coming of age of the Japanese automaker as it catches up with rivals such as Tesla Inc and Nissan Motor Co which have marketed battery EVs for years.
“Initially, we will release products in China, North America, and other regions where demand for ‘pure’ EVs is high,” said Sawa while adding that the brand would announce details for the upcoming model next month.
While automakers are increasingly expanding their EV offerings midst tightening global emissions regulations, demand for them however has been tepid due to their high prices.
