Toyota Reveals New Electric Models Backed by $70 Billion Investment

Toyota’s president Akio Toyoda announced at a press conference that the Japanese automaker will introduce 30 new fully electric models by 2030. Reuters reports the move involves a $70 billion commitment to electrify its automobiles. The carmaker expects to sell 3.5 million electric vehicles worldwide by 2030. That figure accounts for about a third of its present-day vehicle sales of approximately 10 million per year. This follows Toyota’s November reveal that its all-electric bZ4X will go on sale in mid-2022. The bZ, which stands for Beyond Zero, will have a manufacturer-estimated range of up to 250 miles for XLE front-wheel-drive models.