Toyota Charges Forward - Aiming 600K EV Production By 2025: Report

Toyota Motor Corporation TM will reportedly speed up the production of electric vehicles of its Toyota and luxury Lexus brands.

The Japanese auto behemoth was likely to step up production of battery-powered vehicles over the coming years to reach an annual output of more than 600,000 vehicles in 2025, Reuters said in a news report citing Nikkei newspaper.

The company has initially said it targets sales of 1.5 million EVs yearly by 2026 and 3.5 million by 2030, the report added.

Toyota has recently been in the headlines owing to its plans to introduce a next-generation BEV production line with a new modular structure. Half of the process will involve self-propelled production, prompting significant investment.

  • Massive Demand & Disruptive Potential – Boxabl has received interest for over 190,000 homes, positioning itself as a major disruptor in the housing market.
  • Revolutionary Manufacturing Approach – Inspired by Henry Ford’s assembly line, Boxabl’s foldable tiny homes are designed for high-efficiency production, making homeownership more accessible.
  • Affordable Investment Opportunity – With homes priced at $60,000, Boxabl is raising $1 billion to scale production, offering investors a chance to own a stake in its growth.
Share Price: $0.80
Min. Investment: $1,000
Valuation: $3.5B

Related: Revolutionizing The Road: Toyota Unveils New Approach To Manufacturing

The company is also reportedly working on its prototype equipment for the Giga casting technology, which improves the quality of castings, thereby reducing the number of defective products. 

In the last reported quarter, Toyota said it sees a sales volume of 9.6 million and projects total retail unit sales of 11.4 million in FY24. 

Price Action: TM shares are trading higher by 1.11% to $188.37 on the last check Friday.

TM Logo
TMToyota Motor Corp
$185.060.61%

Stock Score Locked: Edge Members Only

Benzinga Rankings give you vital metrics on any stock – anytime.

Unlock Rankings
Edge Rankings
Momentum
42.84
Growth
52.37
Quality
97.45
Value
98.38
Price Trend
Short
Medium
Long
Market News and Data brought to you by Benzinga APIs

Comments
Loading...