Toyota Aims to Triple Electric Vehicle Lineup by 2027

Toyota, the world’s largest automaker, is set to launch an ambitious plan to triple its electric vehicle (EV) lineup by 2027, introducing 10 new models globally.

This strategic move aims to close the gap with competitors like BYD, which has made significant strides in the EV market.

Currently, Toyota offers five EV models, but as the industry rapidly evolves, the company recognizes the urgent need to ramp up its production and offerings.

Can Toyota Reclaim Its EV Market Position Amidst Fierce Competition?

To facilitate this expansion, Toyota plans to increase its EV manufacturing capabilities in the United States, Thailand, and Argentina, which will help circumvent tariffs and improve delivery timelines.

The automaker is preparing to produce its first three-row electric SUV at plants in Kentucky and Indiana by 2026. In Europe, consumers can look forward to three new electric SUVs, including an updated version of the bZ4X, alongside the C-HR+ and Urban Cruiser, which will begin production in Japan this September.

Despite these advancements, Toyota has struggled in the past year, with only 140,000 EVs sold in 2024 compared to BYD’s staggering sales of over 416,000 units in the first quarter of 2025 alone. This discrepancy underscores the fierce competition in the market, especially with BYD’s overseas expansion plans, which include new production facilities in Brazil, Turkey, and Mexico.

In an attempt to reignite its position in the EV sector, Toyota launched its most affordable model, the bZ3X, in China, where it received over 10,000 orders within the first hour of its debut. However, the company has scaled back its production target for 2026 from an initial 1.5 million to around 800,000 vehicles. As the EV race heats up, only time will tell if Toyota can reclaim its status in this rapidly evolving landscape.