Japan’s Toyota Motor slashes 2026 global EV output plans by a third | World News

Japan’s Toyota Motor has slashed its electric vehicle production plans for 2026 by a third, the Nikkei business daily reported, becoming the latest automaker to roll back electric car plans as EV sales momentum wanes.

Producing even 1 million electric vehicles per year, however, represents an ambitious undertaking for Toyota, which has put far more effort into developing hybrids and sold only about 104,000 EVs last year. EVs currently account for about 1% of its global sales.

Earlier this week, Swedish automaker Volvo Cars scrapped its target of going all electric by 2030, saying it expects to still be offering some hybrid models in its lineup at that time.

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