Toyota is the latest vehicle maker to dial back its electric vehicle output plans in the place of lower than expected BEV sales, according to a Nikkei report.
The Nikkei business daily reported that Japan’s largest automaker has cut its electric vehicle production plans for 2026 by a third. The Nikkei report said Toyota now plans to build one million EVs in 2026, compared with an earlier target of 1.5 million.
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The report said Toyota has notified its suppliers of the decision to reduce BEV output plans.
Toyota product strength lays in hybrids rather than fully-electric cars, but has been playing catch-up on BEVs in recent years. However, like other OEMs (such as Volvo Cars), it is now reacting to slower than expected demand for BEVs in major markets around the world.
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