Fully-electric Toyota Hilux Revo pickup trucks as public transportation vehicles are seen in the Thai seaside town of Pattaya, Chonburi province, Thailand, April 25, 2024. Photo: Reuters
Toyota declined to comment, saying the information was not announced by the company.
Toyota has five EV models developed in-house, manufacturing them only in Japan and China, the Nikkei said. Expanding production to the United States, Thailand and Argentina can help hedge against tariff and foreign exchange risks and cut delivery times, it added.
The 15 EV models include some under its Lexus luxury brand, the business daily said. Toyota now expects to produce about 800,000 units in 2026, effectively down nearly 50% from its original plan, Nikkei added.
Toyota has previously said it intended to sell 1.5 million EVs per year by 2026 and 3.5 million by 2030, calling the numbers benchmarks for shareholders rather than targets.
In 2024, it sold almost 140,000 EVs globally, up by about a third from a year earlier. They accounted for less than 2% of its total global sales of over 10 million.
