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Toyota to Launch an Affordable Electric Car by 2026

Toyota announced this week at its 2023 financial results press briefing that it will launch 10 battery electric vehicle (BEV) models in the luxury, SUV, compact, sedan, commercial, MPV, and sports segments by 2026.

CEO Koji Sato mentioned hatchback EVs for emerging markets in the ASEAN region. The sedan segment lacked defined photos, suggesting that the emerging market product is still in development.

In April, Toyota’s vice president Hiroki Nakajima announced the 10-model rollout and a new EV manufacturing unit. Sato’s address stated that new platforms, powertrains, and tech equipment will be used in the 2026 EV models. The Japanese automotive giant aims to sell 1.5 million BEVs by 2026.

This week, Toyota announced that it will restructure its EV business by disbanding its zero-emissions vehicle (ZEV) unit and creating a BEV factory, a dedicated organization that will accelerate EV development and business growth.

The company stated that it aims to introduce a variety of environment-friendly powertrain options. Although, EV development will now be at the forefront.

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