Toyota accelerates EV push to counter Chinese dominance

Toyota plans 15 new battery-electric models by 2027, targeting one million EV units annually as BYD and Tesla each sold 1.76 million last year while Toyota managed under 100,000. The shift abandons the automaker's cautious hybrid-first strategy as European regulations demand 100% CO2 reduction by 2035 and Chinese competitors dominate global EV sales. Production expands to US plants in Kentucky and Indiana from 2026, with solid-state batteries targeting 50% cost reduction per vehicle by the late 2020s. Toyota's multi-pathway hedge is crumbling under regulatory pressure and market reality.