Toyota Ramps up EV Strategy With Reported Plans to Release 10 New Models by 2027
Nikki Asia recently leaked a report detailing Toyota’s plans to expand its electric vehicle (EV) output from its current five models, including vehicles under the Lexus brand, to 15 by 2027. The reputable source states that this expansion strategy will include production in Japan, China, the US, ...
Toyota’s EV expansion plans will span five countries
Nikki Asia recently leaked a report detailing Toyota’s plans to expand its electric vehicle (EV) output from its current five models, including vehicles under the Lexus brand, to 15 by 2027. The reputable source states that this expansion strategy will include production in Japan, China, the US, Argentina, and Thailand. Toyota has declined to comment on its reported plans since the information hasn’t yet been officially released by the automaker, according to Reuters.
President Trump’s newly imposed 25% additional tariff on auto imports has influenced Toyota’s decision to vary production locations. The automaker is also facing pressure from other governments like Thailand, which wants EVs to represent 30% of its domestic auto output by 2030. Production of Toyota’s electric Hilux starts in October, and the automaker plans to expand the manufacturing of the model to Argentina. In the US, Toyota is scheduling three-row electric SUV production at its Kentucky and Indiana plants starting in 2026, with batteries coming from a new North Carolina facility. 
In Japan, Toyota will start manufacturing its C-HR+ SUV at its Takaoka plant in September, with the company’s Tahara factory slated to initiate production of a next-generation Lexus EV around August 2027. As of now, Toyota’s five EV models marketed worldwide include the Toyota bZ4X, C-HR+, Urban Cruiser, Hilux EV, and the Lexus RZ—but only the bZ4X and RZ are available in the US. Toyota expects to multiply its EV production seven-fold by 2027, equivalent to around one million units. Operations for Toyota in China will prioritize manufacturing the company’s least expensive EV, the bZ3X SUV, which is priced at about 110,000 yuan ($14,965.88).
Toyota's numbers will only be going up
Toyota’s estimate of manufacturing 800,000 EVs in 2026 is down almost 50% from its original goal. This initial plan included Toyota selling 1.5 million EVs per year by 2026 and 3.5 million by 2030. However, the automaker has labeled its original goals as investor benchmarks rather than targets. Toyota sold nearly 140,000 EVs globally in 2024, an increase of about a third from last year and representing less than 2% of the manufacturer’s 10 million total sales. Last year, Tesla sold 1.79 EVS compared to BYD’s 1.76 million deliveries.
Still, Toyota isn’t the only brand with bold EV expansion plans. Kia revealed its EV4 and Concept EV2 in late February at the 2025 Kia EV Day in Tarragona, Spain. Honda is also set to launch production at its new Ohio EV plant, which broke ground in 2023, later this year. This Ohio facility will focus on the all-new Acura RSX EV and Honda EV models based on the Honda 0 SUV and Honda 0 Saloon prototypes, according to Car Dealership Guy.
Final thoughts
Toyota’s significant EV expansion plans indicate the automaker’s awareness that with BYD and Tesla dominating the segment, slipping farther behind only increases difficulties associated with establishing a competitive market share. Additionally, Tesla’s struggles this year, which include the company experiencing its worst Q1 since 2022, set the stage for Toyota to gain some new EV fans in the coming years as Tesla rebuilds its image and reputation among drivers. We’ll keep our eyes out for newly announced Toyota EV models, the nature of which will help forecast the automaker’s ability to establish a healthy market share of this segment.
