It has been quoted that Toyota plans to have around 15 electric vehicle models by 2027, which will all be created by the OEM itself. This implies that they will not be the rebranded version of Suzuki electric vehicles under the two auto behemoths' global pact for technology and platform sharing. These 15 EVs will comprise some Lexus models as well, which is the automaker's luxury car division.
The report also said that Toyota is working toward attaining a production target of approximately 10 lakh units annually in 2027. Toyota is hoping to produce approximately 800,000 units in 2026, thus reducing almost 50 percent from its initial plans, the report said.
The company has earlier stated that it would sell 15 lakh EV units a year by 2026 and 35 lakh units by 2030, labeling the figures as shareholders' benchmarks and not targets. In 2024, it delivered nearly 140,000 EVs worldwide, an increase of around a third from the previous year. They represented less than two percent of its overall global sales of over one crore units.
Toyota currently possesses five electric vehicles in its arsenal, which are designed domestically. Electric vehicles are produced exclusively in Japan and China.
Toyota plans to produce more EVs in other key markets such as the United States, Thailand, and Argentina, which would assist it in diversifying away from tariff and foreign exchange risks and reducing delivery times, ultimately driving sales figures and market share across different regions.
Toyota eyes sales growth in India in FY26 with the sales network growth
Toyota Kirloskar Motor, the India arm of the automaker, plans to sustain sales volume growth in the current fiscal year with an expansion of the sales network and new models, PTI has reported. The carmaker, which had reported record sales in FY25, expects demand for its SUVs and MPVs to remain robust in the ongoing FY26 as well.
In a conversation, Toyota Kirloskar Motor Vice President (Sales-Service-Used Car Business) Varinder Wadhwa stated that the automaker will expand its production capacity and explore the option of electrification and the introduction of battery electric vehicles as part of its commitment to becoming carbon neutral.
He said "We think, with the kind of product portfolio that we have today, from the low-end cars to the flagship offering, additional capacity and our network which again further will be built up in tier II, tier III market. All this will further support the company to consolidate and enable it to play a greater role in the Indian automobile space," he added.
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Wadhwa further said that the company is planning to increase its footprint in rural areas and small towns throughout the nation. "We have been strengthening our sales network. We wish to become closer to our customers, particularly now that we have a broader range of products," he said. Toyota Kirloskar Motor (TKM) has about 1,100 sales outlets throughout the nation presently.
TKM asserts to have supplied 337,148 units to dealers during the last fiscal year, a 28 percent increase over 2,63,512 units in FY24. The company sold 30,043 units in March this year, a 11 per cent increase over 27,180 units during the same month in the previous year.
Conclusion
Toyota is planning aggressively in the electric vehicle space, both internationally and in emerging markets such as India. With an ambitious plan of bringing out 15 self-designed electric models by 2027, including a few under its luxury brand Lexus, the company is marking a drastic change in its focus. While it has been behind the pack in EV take-up until now, Toyota's renewed commitment—along with announcements of global capacity expansion and heightened localization—represents a watershed moment in its electrification transition. In India, the business's expanding network of sales, strong product lineup, and robust FY25 performance position it well for further FY26 growth.
As it moves toward achieving carbon neutrality, Toyota is well-positioned to contribute more to defining the future of mobility in India and beyond.
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