Toyota is increasing the production of electric cars

Toyota expands production of electric vehicles

Japan’s Toyota Corporation is expanding its investment in electric car production. It plans to invest $1.8 billion in the production of electric vehicles in Indonesia. The funds will be allocated over five years.
It should be noted that Indonesia is actively working to become the world’s largest center for the production of electric vehicles. The country is well positioned for this – it has large reserves of nickel ore, which is used to make lithium batteries.
In addition to Toyota, Hyundai and LG’s energy divisions have increased their investments in electric car production. Toyota has been actively cooperating with the Indonesian government for several years. Since 2019, the manufacturer has invested more than 14 trillion rupiahs in the country and does not intend to reduce its turnover. Battery-powered cars are an extremely promising area because of the global trend toward lower carbon emissions. Major manufacturers are reducing the production of internal combustion engine vehicles in favor of electric vehicles. This initiative is also supported by national governments. For example, Indonesia plans to do away with gasoline and diesel cars by 2050, and sell only electric cars and motorcycles. In this way, the government wants to achieve the goal of zero emissions.

production of electric carsAccording to Toyota, the corporation plans to produce hybrid electric cars of various types at its facilities in Indonesia. So far, the partnership is designed for five years, but the Japanese manufacturer is considering other options for cooperation with the country.
Late last year, Toyota announced the launch of a new line of electric cars. It was allocated 35 billion dollars, and the first copies will be presented in 2030. In total, the manufacturer promises to develop 30 models of battery-powered cars. According to the statement, Toyota expects sales of the new lineup to reach 3.5 million cars annually.
Already now, most of the Japanese company’s car sales are in hybrids, which include the ability to use power from batteries and with the help of the internal combustion engine. At the same time, models that run only on batteries have not yet reached a large volume of sales. However, Toyota is actively developing this area by investing in the creation and production of this type of vehicle. In addition to electric cars, the manufacturer is also paying attention to the segment of hydrogen cars.
Toyota plans to bring the share of sales of electric models in the Lexus brand to 100% in China, Europe, and North America by 2030. In other regions, the corporation wants to achieve this indicator by 2035. Toyota lags behind its competitors, such as General Motors and Ford, which are actively increasing the production and sales of electric cars.