Automotive News: Toyota Slashes EV Output By 30% For 2026

In keeping with all automakers that are cutting back investment and production into electric vehicles, Toyota has become the latest to slow its EV output because they are losing their shirt on every one they make, according to a new report from Nikkei Asia.

Consumers are pushing back on the Green New Scam EVs – their cost, their range anxiety and the future environmental disaster they will cause. Watching EV owners sit at a charging station for hours (wait time plus charge time) is hilarious.

When the hundreds of millions of EV batteries hit landfills in about 10 years, we will have an environmental disaster all caused by the Green New Scam.

The company “plans to significantly slow its production of electric vehicles”, the report says, stating it’ll cut global output for 2026 to just 1 million cars, about 30% less than previously expected.

Toyota has decided to reduce EV production due to a global market slowdown, informing its suppliers of the change. The company now plans to produce over 400,000 EVs by 2025 and aims to more than double output in 2026.

Toyota, which has prioritized hybrid vehicles, sold around 100,000 EVs in 2023 and 80,000 between January and July this year, the report says.

Last May, Toyota announced a goal to sell 1.5 million EVs by 2026, intending to use the figure as a benchmark to strengthen its supply chain for batteries and other components.

Global EV sales reached 9.7 million units in 2023, a 32% rise from 2022, though slower than the 65% growth seen the year prior.

According to Nikkei, Tesla’s global sales dropped 7% in the first half of 2023 to 830,000 units, while China’s BYD saw an 18% increase to 720,000 EVs, alongside a 40% jump in plug-in hybrid vehicle sales.

Volkswagen is considering closing a German factory, General Motors has delayed production of large EVs by two years, and Ford halted the development of large electric SUVs.

Volvo scrapped its goal to be an all-EV maker by 2030. Among Japanese automakers, only Toyota has revised its EV plans, while Honda remains committed to producing only EVs or fuel cell vehicles by 2040.

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