According to foreign media reports, Toyota plans to start production of pure electric vehicles (EV) and plug-in hybrid vehicles (PHV) in Thailand by January 2023.
In addition, the Thai Investment Promotion Board (BOI) approved Toyota’s production plan. The specific time and model for starting production have yet to be determined.
Toyota currently produces about 600,000 vehicles in Thailand each year, about half of which are sold in Thailand and half of which are exported.
Foreign media reported earlier this month that Toyota plans to sell 500,000 pure electric vehicles worldwide each year by 2025. That number is only about one sixth of Volkswagen’s target.
Feng believes that it is necessary to observe battery performance and future market trends, which will steadily expand. The goal is to meet the minimum sales volume required to meet environmental protection policies in China and Europe.
Toyota had predicted last month that the global sales of the Toyota Group (including Toyota, Daihatsu, and Hino) in 2019 were expected to be 10.72 million units, which is 101% of the global sales in 2018. In addition, the Toyota Group’s global sales target for 2020 is 10.77 million, which is 100% of the global sales forecast for 2019.