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A slowdown in demand for electric vehicles globally appears to have triggered Toyota to walk back its targets. Nikkei Asia reports Toyota’s forecast of 1.5 million EV sales annually by 2026, announced in April last year, has been cut by one third to one million annual sales. The publication doesn’t cite a source for the revised targets, though it reports the decision was “prompted by the slowdown in the global EV market,” and that “Toyota has notified its parts suppliers of the decision.
Toyota launching 10 EVs by 2026, including a ute Toyota’s global dominance continues, new sales record set
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