Toyota Misses EV Targets

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【Summary】Toyota is aiming to build 600,000 EVs by 2025 but has fallen far behind in its EV sales targets, having sold fewer than 25,000 EVs last year. Toyota plans to increase EV production in the coming years and has teased several EV concept cars. Meanwhile, the "big three" automakers in the U.S. are making final attempts to reach a deal with the United Auto Workers union to prevent an escalation of strike action.

FutureCar Staff Sep 23, 2023 9:15 AM 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 pretty slow to the electric vehicle party. However, the Japanese automaker is now looking to ramp up its EV production. According to a new report from Automotive News, Toyota hopes to hit 600,000 EV sales by 2025, 1.5 million EVs by 2026, and 3.5 million by 2030. Toyota aims to surpass Tesla's EV sales within three years and have electric models account for a third of its 9 million annual sales by the end of the decade. However, Toyota has a long way to go as it sold fewer than 25,000 EVs last year. The company plans to increase EV production to about 150,000 vehicles in 2023 and gradually increase it further to the 190,000-vehicle range next year.

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

The United Auto Workers union in America has been on strike at Ford, General Motors, and Stellantis plants since last Friday. Now, the big three automakers are making a final attempt to reach a deal with the union. The negotiations took place ahead of the UAW's Friday noon deadline for an expanded strike, which 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 caused some tension, with the automakers accusing the UAW of not bargaining in good faith.

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

The European Union is looking into the use of e-fuels and their impact on carbon emissions. A draft document states that cars running on e-fuels must be 100% carbon neutral if they want to be sold past the upcoming ban on gas-powered models. From 2035, e-fuel cars must be net-zero polluters. E-fuels must be made in a way that utilizes captured atmospheric carbon to offset the CO2 released when the fuel is burned in a car engine.

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

Ford is facing another probe by the National Highway Traffic Safety Administration (NHTSA), this time regarding an oil pump issue in EcoSport models. The NHTSA is investigating complaints alleging that the car's oil pump may fail, resulting in a loss of motive power while the vehicle is in motion. This probe adds to the NHTSA's investigation into 1.2 million Focus models and a probe into the Explorer SUV, affecting over 700,000 units.

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