Toyota says its annual global sales could reach $5.5 Million in five years

On Tuesday, Toyota Motor Corporation (7203.T) reported that its annual global sales could reach $5.5 Million in 2025 due to its top-selling electric car units.

The Japanese multinational automotive manufacturer announced its plan to sell electric-powered vehicles worth $5.5 Million by 2030. It includes hybrid and plug-in hybrid vehicles worth $4.5 Million and electric and hydrogen fuel-cell vehicles worth $1 Million.

Toyota China’s Engineering and Manufacturing Chairman and President Seiya Nakao stated that its automotive electrification was progressing faster than expected. He also added that the company could reach its target sales earlier than initially planned.

In 2019, the automotive company sold more than 10 Million vehicles including 2 Million electrified car units.

Toyota introduced the Prius hybrid-electric car in 1997.

In 2014, Toyota revealed the first mass-produced fuel cell sedan, Mirai.