Toyota's Push Toward Electric Vehicles

Toyota Prius Prime

Since the worldwide release of the Prius in 2000, Toyota has become a well-known name in hybrid vehicles. Nearly 20 years later, the company is moving forward with plans to increase their number of energy-efficient vehicles. These new designs are currently being developed and tested, and Toyota plans to release at least 10 new fully electric models by the early part of the next decade.

These new designs of electric vehicles, or EVs, will have zero carbon emissions. Two of these EVs are the i-ROAD and the iQ EV. The i-ROAD is a single-passenger model that is designed to have the small size and maneuverability of a motorcycle but the enclosure of a car. The iQ EV is a more traditional compact car that requires about half the parking space of a typical car. The iQ EV has a roomy interior and seats four. Both of these options are marketed as urban vehicles. These new electric vehicle designs will first be made available in China, where energy efficiency is a country-wide initiative. Release in Japan, India, Europe and the U.S will be following in stages over the subsequent few years.

In addition to the new totally electric vehicles, Toyota has also set a goal to offer a partially or fully electric version of each model it produces by 2025. This goal includes all of the company's luxury brand Lexus models as well. Toyota projects that it will have over 5 million hybrid or electric vehicles sold per year by 2030, with 1 million of those units being fully electric.

Toyota is investing a great deal of both manpower and money to accomplish these goals. The company recently announced that it is in the early stages of exploring a collaboration with Panasonic to develop sustainable and longer-lasting electric vehicle batteries. A joint partnership with Mazda is also being forged to advance electric technology in a wider variety of vehicle sizes. Toyota plans to spend more than 13 billion dollars by 2030 in its vehicle electrification initiative.

As Toyota joins the growing number of automakers producing partially and fully electric vehicles, consumers can look forward to new options in the next several years.

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Categories: Prius, Technology
Tags: Electric

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