Toyota Motor’s 2022 Outlook: Expansion of HEV Production System, Full-scale Launch of BEV Strategy

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In December 2021, Toyota Motor announced that it would raise its sales target of electric vehicles from the previous 2 million units to 3.5 million units by 2030. In addition, the investment amount in in-vehicle batteries was raised from 1.5 trillion JPY to 2 trillion JPY. Toyota Motor will also invest 8 trillion JPY in electrification which will be equally divided between BEVs on one side, and HEVs, PHEVs and FCEVs on the other.

In 2022, Toyota Motor plans to launch the bZ4X, the first model of the bZ BEV series, in the middle of the year. The bZ series will be introduced in China, the United States and Europe where there is a large demand for BEVs and sufficient power supply from renewable energy.

Toyota Motor: 2021 Outlook

Sales Plan

・Toyota Motor announces its sales and production plan for the following year in December; however, it has not announced its plan for 2021 (as of January 5, 2022). - Toyota’s global sales forecast for the fiscal year ending March 2022 is of 9.4 million units (announced in November 2021, revised downward by 200,000 units from the previous forecast).

Production Plan

・The global production plan for January 2022 has been announced to be about 800,000 units, an increase of 8% from the same month of the previous year. ・In fiscal year 2021, production is planned to be kept at the 9 million-unit level (about 9.2 million units according to some reports). - In December 2021, Toyota planned to produce 1 million units, but the plan was revised to about 800,000 units. Production was affected by a shortage of parts due to the spread of corona infection, but in January, recovery production is factored in, and an increase from the same month of the previous year is expected. - Production is expected to increase in February and March 2022. However, semiconductor shortage remains a risk factor. ・The production plan for the 2022 calendar year has not been announced as of December 2021. It is expected to be announced in mid-January 2022. - Procurement of wire harnesses, semiconductors, audio and other parts has become unstable.

New Products

・Toyota has been expanding the use of the GA platform series. In addition, Toyota has strengthened its strategy of developing multiple vehicle types using the same model. From 2022, the Crown model is also planned to have four vehicle types. - In 2021, SUV versions of the Corolla and Yaris were released as part of Toyota’s product strategy. ・In 2022, the bZ4X, the first model of the bZ BEV series, will be rolled out globally in the United States, Europe, Japan and China in the middle of the year. ・In Japan, the Lexus LX, an SUV that uses the GA-F platform, is scheduled to be launched in early 2022. ・In Europe, the Corolla Cross, Yaris Cross and Aygo X are scheduled to be launched in 2022. (Created using Toyota Motor’s PR materials and various media sources)

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