Skip to main content

Toyota to Debut Two Electric Vehicles and One Hybrid in U.S.

Toyota says its goal is to have 25% of new vehicle sales be electrified models by 2025.
  • Author:
  • Publish date:

Toyota  (TM)  said Wednesday that it will introduce two new electric vehicles and a plug-in hybrid in the United States in another move by an automaker to offer more environmentally friendly cars.

Shares of Toyota rose 5% to $161.86 in trading Thursday.

Toyota said the vehicles, which will be brought to the U.S. market in 2022, were part of a plan to introduce 10 new EVs worldwide in the "early 2020s." 

The company said it has more than 40% share of the total alternative fuel vehicle market, which includes a 75% share of the fuel-cell market and a 64% share of hybrids and plug-ins. 

By 2025, Toyota's goal is to have 25% of new vehicle sales be electrified models, and expects that figure to rise to nearly 70% by 2030.

Scroll to Continue

TheStreet Recommends

Globally, Toyota said its hybrid vehicles sold have avoided issuing an estimated 139 million tons of greenhouse gas into the atmosphere. In the U.S., the company said its vehicles have avoided about 38 million tons of GHG. 

Toyota recently agreed to purchase power from a future Clearway Energy Group wind farm to reduce its overall carbon footprint from electricity used from the power grid.

Separately, Toyota and Lyft  (LYFT)  said on Wednesday they have launched a partnership to provide an initially limited number of ride-hail drivers in Vancouver, British Columbia, with access to hydrogen-powered Mirai sedans, Reuters reported.

The Biden administration recently announced plans to replace the government fleet with electric vehicles and several automakers have announced their intention to offer electric vehicles.

Last week, Ford Motor  (F)  said it would invest $29 billion into electric and autonomous vehicles. 

General Motors  (GM)  said last month that it planned to be "carbon neutral" by 2040 and phase out gasoline and diesel cars by 2035.