TOKYO — Toyota Motor is set to introduce 15 electric vehicle models by 2025 as the world’s biggest automaker looks to capture a slice of the fast-growing EV market.
The Japanese automaker is known for kick-starting the market for hybrid vehicles, which combine an engine with an electric motor, but has been less aggressive than its U.S. and European rivals in developing fully electric models. Its latest move is the first indication that Toyota intends to catch up and develop a full lineup of eco-friendly vehicles.
Seven of the EV models will be launched under a new brand, Toyota bZ. The first model, the Toyota bZ4X SUV, will be jointly developed with compatriot Subaru, in which Toyota has a 20% stake, and will go on sale by the middle of 2022.
Based on the proposition of reducing CO2 emissions throughout the life cycle, Toyota believes [...]