Toyota slashes EV production plans by 33%

The Japanese automotive giant has toned down its expectations from the EV market by one-third.

Initially, Toyota had been looking forward to delivering 1,500,000 electric vehicles worldwide in 2026. According to unofficial reports from multiple insiders, it has now revised that target to just 1,000,000.

The new goal might also be too optimistic, actually, considering that the company only sold around 100,000 EVs last year. Multiplying sales by a factor of ten in three years isn’t going to be easy in the faltering EV market of today.