Toyota Cuts EV Target For 2026

Toyota is reportedly slashing its target for total EV sales by 2026, with automakers reportedly slashing that target by as much as a third.

Toyota officially aims to sell 1.5 million EVs by 2026. That’s still conservative compared to some competitors, who are already talking about an all-electric future. On the other hand, 2026 isn’t that far away. According to Reuters, citing Japanese business newspaper Nikkei, Toyota wants to adjust that target to 1 million units.

That would shave a third off the original target and put Toyota among the long list of automakers that are lowering their EV targets. This week, for example, Volvo did, but we’ve heard similar noises from Porsche, Ford and GM, among others.

Reuters also states that Toyota denies adjusting the target number of EVs for 2026. However, the brand also says that the 1.5 million is ‘not a target, but a benchmark’, as is ‘3.5 million in 2030’. If those numbers are not achieved, then according to Toyota, nothing is wrong. Even for 1 million EVs, there is still much to do at Toyota.

In 2023, a total of 104,018 EVs were sold over the proverbial counter, out of a total of 11.23 million vehicles sold. 3.7 million of those were electrified in one way or another, which at Toyota in most cases means ‘hybrid’.

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