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.
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.
