- Toyota aims to bring electric vehicles to India as well but didn’t reveal which model.
Toyota aims to boost its efforts in the global electric vehicle market. Despite being a laggard in the international electric car market, Toyota has been shifting its focus on the segment lately and aiming to grab a sizeable chunk in this space. In an attempt to achieve this goal, the Japanese automobile giant is targeting to have an electric vehicle portfolio comprising 15 different models by 2027, which would allow the OEM to rake in higher sales numbers later this decade and help it keep pace with the rapidly evolving EV market.
Nikkei newspaper has reported that Toyota aims to have about 15 electric vehicle models by 2027, which all will be developed by the OEM itself. This means they won’t be the rebadged version of Suzuki electric cars under the two auto giant’s global agreement for platform and technology sharing. These 15 EVs will include some Lexus models as well, which is the automaker’s luxury car subsidiary.
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The report further stated that Toyota is targeting to achieve a production milestone of about 10 lakh units a year by 2027. Toyota expects to produce about 800,000 units in 2026, effectively down nearly 50 per cent from its original plan, the report added. The automaker has previously said it intended to sell 15 lakh units of EVs per year by 2026 and 35 lakh units by 2030, calling the numbers benchmarks for shareholders rather than targets. In 2024, it sold almost 140,000 EVs globally, up by about a third from a year earlier. They accounted for less than two per cent of its total global sales of more than one crore units.
Toyota currently has five electric cars in its kitty, which are developed in-house. These electric cars are manufactured only in Japan and China. The company aims to expand its production of EVs in other major markets like the United States, Thailand and Argentina, which would help it hedge against tariff and foreign exchange risks and cut delivery times, eventually improving sales numbers and market share in multiple regions.
Toyota eyes sales growth in India in FY26 with sales network growth, more SUVs
Toyota Kirloskar Motor, the automaker’s India wing, aims to maintain sales volume growth in the current financial year with plans to expand the sales network and introduce new models, PTI has reported. The carmaker, which reported record sales in FY25, expects demand for its SUVs and MPVs to remain robust in the ongoing FY26 as well.
In an interaction, Toyota Kirloskar Motor Vice President (Sales-Service-Used Car Business) Varinder Wadhwa has said that the automaker plans to increase its production capacity and explore electrification, including the introduction of battery electric vehicles as part of its commitment towards carbon neutrality. “We believe, with the kind of product portfolio we have now, right from the small cars to the flagship offering, increased production capacity and our network which is further going to be enhanced in tier II, tier III market…all this will further help the company to consolidate and help play a bigger role in the Indian automobile market,” he said.
Wadhwa also noted that the company is looking to expand its presence in rural areas and smaller towns across the country. “We have been enhancing our sales network. We want to get closer to our customers, especially now when we have a wider product range,” he added. Toyota Kirloskar Motor (TKM) currently has around 1,100 sales outlets across the country.
TKM claims to have dispatched 337,148 units to dealers last fiscal, a growth of 28 per cent compared to 2,63,512 units in FY24. In March this year, the company sold 30,043 units, a growth of 11 per cent from 27,180 units in the same month last year.
Check out Upcoming Cars in India 2024, Best SUVs in India.
First Published Date: 07 Apr 2025, 09:27 AM IST
