In view of the current US government’s commitment to decreasing carbon emissions, Toyota Motor Corporation announced on Wednesday that it will release two new electric vehicle products that will go on sale in the United States next year.
The Japanese automaker’s share price rose sharply on Wednesday. The company also stated that it expects that by 2025, 40% of its cars sold in the United States will be hybrid or electric vehicles, and this proportion will rise to 70% by 2030.
One of the two new electric vehicles the company will launch next year will be a sports utility vehicle (SUV), and the other will be a plug-in hybrid electric vehicle (PHEV). Toyota announced in 2017 that it will launch more than 10 electric vehicles globally at the starting of the second decade of this century.
Bob Carter, Toyota’s executive vice president of North American sales, announced that the company’s two new cars for the US market are the first in a series of electric car products that Toyota will launch.
‘Electrification is the future of this industry, this is an issue that does not need to be debated,’ Carter stated. ‘Our only point of contention is the speed of industry development and change.”
Toyota predicts that by 2025, 7% of new car sales in the automotive market will be electric vehicles, and by 2030 this proportion will rise to 15% to 18%. In 2020, Toyota sold 337,000 hybrid vehicles in the United States, accounting for 16% of its U.S. car sales.
This year, as the company’s hybrid vehicle models rise, the proportion of its sales in the United States will increase to more than 20%. On Wednesday at the New York Stock Exchange, Toyota Motor Corporation’s stock price rose more than 5%.
The major traditional automakers are transforming to electric vehicles. General Motors announced an ambitious goal last month to achieve zero emissions for all new passenger cars, SUVs, and light pickup trucks it sells by 2035. For the company, this is a major change.
On Wednesday’s earnings call, General Motors CEO Mary Barra expressed optimism about the company’s 2035 target. ‘All our assets can help us achieve this goal. We must solve problems and win customers, and I think we have the ability to do this.’
(Via)
