Eyeing growth in India with new models, Toyota aims to launch 15 EVs by 2027 worldwide.
Toyota plans to introduce 15 electric vehicle (EV) models globally by 2027. The Japanese automaker aims to strengthen its presence in the global EV market with in-house developed models, including Lexus vehicles, avoiding reliance on rebadged Suzuki products.
According to Hindustan Times, this move aligns with Toyota’s expansion strategy in the fast-evolving EV sector.
A recent report by Nikkei stated that Toyota is targeting an annual EV production of around one million units by 2027. The company expects to manufacture approximately 800,000 EVs in 2026, a reduction from its initial goal.
Toyota has clarified that its previous targets of 1.5 million EV sales by 2026 and 3.5 million by 2030 are benchmarks rather than commitments. In 2024, Toyota sold nearly 140,000 EVs, comprising less than 2% of its global sales.
Currently, Toyota manufactures five EV models, all of which are produced in Japan and China. The company plans to expand EV production to key markets like the US, Thailand, and Argentina to minimise tariffs, reduce delivery time, and improve market share.
In India, Toyota Kirloskar Motor (TKM) focuses on growth in FY26 through network expansion and new model launches. The company reported record sales in FY25 and expects continued demand for its SUVs and MPVs.
TKM Vice President Varinder Wadhwa stated that increased production capacity, a broadened portfolio, and deeper penetration into tier II and III cities will support growth.
The firm is also working towards carbon neutrality by exploring battery electric vehicles. TKM operates about 1100 sales outlets across India and aims to grow its rural and small-town presence.
TKM dispatched 337,148 vehicles in FY25, a 28% increase from FY24. In March 2025 alone, it sold over 30,000 units, up 11% annually.
