Breaking the conservative image Toyota spent $35 billion on the development of 30 pure electric vehicles

Toyota Motor plans to invest 4 trillion yen (about $35 billion) to develop up to 30 pure electric vehicle models by 2030.

In addition, Toyota is also investing 4 trillion yen in other types of electric vehicles, including hydrogen-powered, hybrid, plug-in, fuel cells and other models.

Toyota Chief Executive Akio Toyoda said Tuesday that the company aims to increase global sales of electric vehicles to 3.5 million units a year by the end of 2030, equivalent to about a third of current global sales. Most of the electric vehicles toyota currently sells are hybrid electric vehicles, and pure battery electric vehicles account for only a small part of its current sales.

The 4 trillion yen investment in pure electric vehicles will be used for capital expenditures, research and development, and investment in battery technology. Investment in battery technology will account for 2 trillion yen, up from the previously planned 1.5 trillion yen.

In his strategy briefing, Akio Toyoda said: "In this unknown era of diversification, it is important to pay attention to market trends and flexibly change the type and quantity of products. ”

"We believe that it is more important to adapt quickly to future changes than to try to predict the future, because the future has nothing but uncertainty," added Akio Toyoda, adding that we hope to be able to deploy ahead of schedule and provide customers with options.

Japanese auto companies have long been considered cautious and conservative, and Toyota has often been criticized for this, hoping that the market will rebuild the company's image.

Toyota's pure electric SUV, the bZ4X, will begin selling worldwide next year. By 2025, Toyota will launch a total of 15 bZ models.

Toyota also hopes that its luxury brand Lexus will achieve 100% of pure electric vehicle sales in Europe, North America and China by 2030 and 100% globally by 2035.

Akio Toyoda also stressed that the company aims to achieve carbon neutrality in the manufacturing plant by 2035.