Toyota Motor Corp. is rolling out 15 zero-emission vehicles in Europe by 2026, including six electric models, even as the company scales back its global EV ambitions due to cooling demand.
Toyota Motor Europe CEO Yoshihiro Nakata, speaking at a Brussels event showcasing the new lineup, said EVs are gaining acceptance across Europe. The company expects the new vehicles to boost Toyota’s EV share in European sales to 20% from the current 5%.
The Japanese automaker highlighted three upcoming electric models: the C-HR+ SUV with a 600-kilometer range, the Suzuki-manufactured Urban Cruiser, and a revised version of its bZ4X. The premium Lexus RZ, featuring steer-by-wire technology, is also part of the planned lineup.
While maintaining its European target of 250,000 EV sales by 2026, Nakata acknowledged potential delays in reaching this goal as EV demand softens across the continent. Unlike European and Chinese competitors rushing to launch EVs priced under €20,000 ($21,800), Toyota has no immediate plans for a budget European model.
The company recently launched its budget bZ3X in China at 110,000 yuan ($15,200), but Nakata indicated Toyota doesn’t see an urgent need for a similar offering in Europe.
Despite producing 77% of its European vehicles locally, the upcoming EVs will be imported from Japan and India, with Nakata citing insufficient projected sales volume to justify European production.
