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Automotive Industry
Toyota will reach the sales threshold to trigger European battery-electric vehicle production in 2026, according to the automaker’s CEO for Europe, Yoshihiro Nakata.
Toyota brand plans to launch five new all-electric passenger cars by 2026, expanding its BEV lineup to six including the bZ4X SUV that is already on sale.
By 2026 Toyota and Lexus BEV sales in Europe will grow to 250,000, representing more than 20% of its total volume in the region, Nakata said at a media event held here last week.
“We have always been clear that local production of EVs will come when we have secured a sustainable volume. We believe we will be able to make that step in that timeframe [2026],” he said.
Toyota subsequently clarified to Automotive News Europe that Nakata’s statement did not mean the company would start EV production in Europe in 2026.
Toyota and its premium brand Lexus sold 18,135 BEVs in Europe through October, according to market analysts Dataforce, equating to 2.4% of the company’s total sales in the region. Battery-electric cars accounted for 15% of Europe's new-car market in the first 10 months.
The automaker's next BEV model will be a small SUV, the automaker said last week. It will be unveiled in the first half of 2024 ahead of a market launch in Europe later in the year.
Toyota previewed the car as the Urban SUV Concept in Brussels. The small SUV is being co-developed with Suzuki and will be built in India, a source told Automotive News Europe. Suzuki showed its version as the eVX concept at the Delhi auto show in January.
Toyota, which has factories in the UK, France and Turkey, is the last remaining large scale manufacturer without a firm commitment to build EVs in Europe.
The bZ4X is produced at Toyota's Motomachi plant in Japan and the five new all-electric cars planned for Europe before 2026 will be built outside the region, possibly in Toyota's partner plants in China and India.
If the company decides to produce full-electric cars in the region, the first BEV to be built locally would likely be a Europe-focused model, Toyota Europe's manufacturing boss, Marvin Cooke, told Automotive News Europe.
Toyota has yet to establish a battery supply chain in Europe. Battery cells for its hybrid models and the coming CH-R plug-in hybrid model are currently sourced from outside the region.
Toyota currently builds the bZ4x in Japan for Europe.
Toyota’s BEV partnerships include China’s BYD. Their joint venture company, BYD Toyota EV Technology, developed the Sport Cross concept revealed at Shanghai auto show in April. The concept previewed a midsize electric crossover due to go on sale Europe in 2025, the company said without naming a production location.
Toyota and long-time Chinese joint venture partner GAC launched a new BEV brand called Bozhi at the Guangzhou auto show in November.