Toyota plans to shift focus to hybrid-only models, aiming for 30% global EV fleet by 2030.

Toyota plans to increase its focus on hybrid-only models, with ambitions to convert most, if not all, of its Toyota and Lexus line-ups. Their hybrid strategy aims to maintain their dominant market position as demand for EVs slows. Toyota Chairman Akio Toyoda believes the global share of EVs will not exceed 30%. By 2030, Toyota plans to convert 30% of its global fleet to EVs, with a focus on a small number of fully electric versions of top-selling models.

August 14, 2024
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