Japanese carmaker Toyota has cut its plans to produce electric vehicles in 2026 by a third, Reuters reported, citing the Nikkei business daily.
It is the latest carmaker to change its electric car plans as electric vehicle sales slow down, Reuters reported.
One million Toyota electric cars in 2026
She added that the world's largest carmaker now plans to produce 1 million electric vehicles in 2026, up from a previously announced sales target of 1.5 million.
That goal remains an ambitious undertaking for Toyota, which has put much more effort into developing hybrids and sold only about 104,000 electric vehicles last year. Electric vehicles now account for about 1 percent of global sales, Reuters reported.
The agency said a Toyota spokesman had no immediate comment on the Nikkei report.
Earlier this week, the Swedish carmaker Volvo Cars has abandoned its targetwhich is the transition to electric drive by 2030. The company assumes that it will still have some hybrid models in its offer during this time.
In the United States, FordGeneral Motors and other automakers have delayed or canceled plans to produce new electric models to avoid spending big on vehicles that consumers are not buying as eagerly as expected, Reuters explained.
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