• To get there, it plans to introduce 10 new models by that time.
It’s no secret that Toyota is lagging behind in the race to electrification among major automakers. Under former president Akio Toyoda, it simply wasn't the top priority. However, the change of guard at the head of the company has been accompanied by a change of philosophy. New top boss Koji Sato, who took over on April 1, is responsible for the shift.
At a presentation earlier today in Japan, Toyota's chief technology officer Hiroki Nakajima said the company is targeting annual production of 1.5 million electric vehicles by 2026. As a comparison, Tesla, which still dominates the electric vehicle market, produced 1.37 million units by 2022.
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