Ford committed to all-electric vehicles some time ago, investing big in EVs and EV batteries with a goal of building two million each year by 2026, as well as connected vehicle technology, which it expects to net it massive profits – $20 billion annually by 2030 via various features and subscriptions, though the automaker’s EVs aren’t expected to turn a profit until 2026. Meanwhile, some automakers – namely Stellantis and Toyota – initially shunned all-electric vehicles, but have since turned the corner, announcing their own massive investments and planned future models, while Toyota was recently spotted benchmarking the Ford F-150 Lightning, too. Now, Toyota has outlined yet another new EV and battery unit plan that’s more aggressive than its previous strategy.
For starters, the Japanese automaker now plans to launch 10 new all-electric vehicles by 2026, with a goal of selling 1.5 million of them each year by that same date. Toyota is also working on developing a new BEV platform and technology that will reportedly increase range significantly when compared to existing models, and will work to drive down costs by improving manufacturing efficiency and utilizing autonomous processes.
Toyota also announced that it plans to achieve carbon neutrality by 2050 – the same deadline Ford has set – though it isn’t giving up on hybrids, either, and plans to increase the pure electric driving range of its PHEV models to 124 miles, all which maintaining its focus on fuel cell vehicles, mostly for commercial purposes.
Additionally, Toyota has announced its own new focus on connected vehicle services, centered around things like mobility, telecommunications, and finance. Much like Ford, Toyota is aiming to provide “value-added services” in that regard, ranging from simple in-vehicle features to analytics, logistics, safety technology, multimedia, and “mobility ecosystems that tie into energy and transportation systems,” according to the automaker.
We’ll have more on everything Ford’s competition is up to soon, so be sure and subscribe to Ford Authority for ongoing Ford news coverage.
LoL and a big raspberry to all of the old bad faith K-street tag team commenting crew, who plagued us late last and early this year, by endlessly insisting Toyota was enjoying near unconstrained success due to its “refusal” to produce BEV cars.
It’s quite interesting how we haven’t seen their scripted multiple and amplifying comments of late.
(I like to think that part of their absence is due to my trying to wreck their business model by refuting their corrupt nonsense. But I think a lot comes from external events like both TMC and RAM revealing they are moving to BEV…)
Could this also be because they were contracted by Toyota? (Or, because they were also pushing “RAM refused”, were they trying to short Ford stock?) (Or, possibly Tesla, trying to slow down Ford because it was cutting into Tesla’s market) (Or were they working on behalf of Big Oil?) (Or possibly, because they covered so much rhetorical territory, working for more than one of them?)
Regardless I’m happy to see both RAM and TMC moving on BEV as this will benefit consumers through more competition bringing faster technological improvements to vehicles and charging as well as lower prices and more charging points.)
Lower prices? What fantasy world do you live in?
competition = lower prices
This will … bringing …
Go back to school and learn about future tense silly boy.
So Toyota finally woke up, the last of the major auto manufacturers on the planet to do so. That’s ok, I believe they are well positioned to catch up to everyone else – Ford included – in a matter of a few years. The future is bright for EVs. The ICE now has a hard expiration date – 2035. A mere 12 years away. Bravo.
For sure Toyota will catch up, they have massive scale and the resources to go with them. Having captive companies like Aisin, etc will help.
That said, Toyota’s cost to pivot will be significantly greater as they have waited so long that their cost of capital will be higher, their ICE business won’t throw off the cash that it currently does as ICE vehicles decline in popularity and the run-out models come under price competition.
This combined with the costs of cutting redundant personnel and old plants will put a burden on Toyota’s balance sheet.
I expect that while Toyota the company won’t exactly struggle it’s stock price will.
The future is so bright, I gotta where shades!