Toyota invests $ 70 billion in electrification: Lexus will have only 700 km electric cars

The Lexus brand will only include electric models by 2030, and the group says it will have 30 electric models in the lineup this year, from small city cars to large vans.

Half of the $ 70 billion will go to the development of full-electric cars, and the company will also invest in opening new factories to produce batteries for electric cars, including in the United States. A substantial portion of the budget will go to hybrid models and hydrogen cars.

Toyota says the Lexus brand will only have 2030 electric models in Europe and the brand’s total worldwide sales will then be one million cars. For some electric models the company promises a range of 700 km.

For Europe, Toyota has several proposed models, starting with a compact full-electric SUV, a segment that has been in high demand for several years.

Toyota estimates it will reach total electric vehicle sales of 3.5 million units by 2030.

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