As such, Toyota isn’t favouring PHEVs over BEVs, remaining committed to a multi-energy approach including BEVs, PHEVs, HEVs, FCEVs, hydrogen combustion, synthetic fuels and biofuels.

Sato said: “We will work to promote electrified vehicles and reduce CO2 emissions with leaving no one behind, including in emerging markets.

“Through this all-direction approach, we aim to reduce average CO2 emissions for vehicles we sell worldwide by 33% by 2030 and by more than 50% by 2035 compared to 2019. We will continue to promote decarbonisation globally and steadily toward 2050.”

The firm now plans to launch 10 new BEVs – in addition to the bZ4X SUV and Chinese-market bZ3 saloon – by 2026, targeting 1.5 million annual BEV sales by that point.

These are expected to use the existing e-TNGA platform and broadly mirror Toyota’s current ICE car line-up in terms of positioning, with a range of crossovers and family-sized SUVs. 

Executive vice-president Yoichi Miyazaki confirmed that one will be a three-row SUV for the US market, using batteries produced in North Carolina.

In Asia, Toyota will begin production of battery-electric pick-up trucks and a “a small battery EV model” by the end of 2023.