Toyota Slashes Projected 2026 EV Production by a Third

September 11, 2024

Toyota Slashes Projected 2026 EV Production by a Third

WASHINGTON, D.C. - Toyota Motor Corp. will dramatically scale back its projected production of electric vehicles (EVs) by more than one-third, cutting the number of new EVs that would roll off the company's production line by more than 500,000 vehicles annually, according to Nikkei, a Japanese business daily. In response, Adam Zuckerman, senior clean vehicles campaigner,issued the following statement:

"Toyota was already dead last on electric vehicles and now it's shifting into reverse. Toyota is doubling down on an outdated, dirty, and increasingly obsolete model that threatens our communities and the planet. This should concern investors, who have seen Toyota's stock price lose over 30% of its value since March, and who have already signaled that they are fed up with Chairman Akio Toyodadragging his feet on EVs."

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