Toyota Misses EV Goals

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【Summary】Toyota is falling behind its own electric vehicle (EV) targets, with sales of less than 25,000 EVs last year. The company aims to sell 600,000 EVs by 2025 and 1.5 million by 2026, but as of now, it has only sold 53,587 fully electric models in the first half of 2023. Toyota plans to increase production of its battery-powered vehicles in the coming years and has teased several EV concept cars.

FutureCar Staff Sep 22, 2023 4:16 PM PT

Good morning! It's Friday, September 22, 2023, and this is The Morning Shift, your daily roundup of the top automotive headlines from around the world, in one place. Here are the important stories you need to know.

1st Gear: Toyota Must Increase EV Output 2,400 Percent

Relatively speaking, Toyota has been relatively slow to join the electric vehicle market. While it pioneered low-impact driving with the Prius and released its first battery-powered model last year, the bZ4X hasn't made a significant impact. However, the Japanese automaker is now looking to ramp up its EV production. According to a report from Automotive News, Toyota aims to sell 600,000 EVs by 2025, 1.5 million by 2026, and 3.5 million by 2030. If successful, Toyota would surpass Tesla's EV sales in three years and have electric models account for a third of its annual sales by the end of the decade. However, the company has a long way to go. In 2022, Toyota sold fewer than 25,000 EVs worldwide, and in the first half of 2023, it only sold 53,587 fully electric models, accounting for less than one percent of its total sales.

2nd Gear: Big Three Enter Another Round Of Final Talks

After a week of strike action from the United Auto Workers union at Ford, General Motors, and Stellantis plants, the big three automakers are making another attempt to reach a deal with the union. According to Forbes, negotiations took place yesterday in hopes of finding common ground and avoiding further escalation of the strike. If an agreement cannot be reached by today, an expanded strike could include plants that produce popular models like the Ford F-150, Chevrolet Silverado, and Ram pickup trucks. However, leaked messages from union insiders have raised concerns about the UAW's intentions, with some suggesting that the ongoing strike action is meant to damage the companies' reputations.

3rd Gear: E-Fuels Must Be Carbon Neutral In Europe

The European Union is examining the use of e-fuels and their role in the transition to more sustainable transport. A draft document obtained by Reuters states that from 2035, cars running on e-fuels must be 100% carbon neutral in order to continue being sold after the ban on gas-powered models. The European Commission is working on a legal proposal to allow sales of new cars running on e-fuels, but strict conditions will be set to ensure they run on fully CO2 neutral fuels. E-fuels must be produced in a way that captures atmospheric carbon, offsetting the CO2 emissions when burned in car engines.

4th Gear: U.S. Probes 240,000 Ford EcoSport Models

The National Highway Traffic Safety Administration (NHTSA) has launched an investigation into an oil pump issue that could affect approximately 240,000 Ford EcoSport models built between 2018 and 2021. The probe was initiated after receiving complaints alleging that the oil pump may fail, resulting in a loss of power while the vehicle is in motion. This investigation adds to the NHTSA's ongoing probe into 1.2 million Ford Focus models and an investigation into the Explorer SUV, affecting over 700,000 units.

That's all for today's Morning Shift. Have a great day!