Toyota Will Add EV in Europe by 2021
Toyota Motor Corp. tells reporters it will debut an all-electric vehicle, probably an SUV, in the European market within about two years.
The company already offers an array of popular hybrid vehicles in Europe. Next year it will introduce its first EV, a variant of its small C-HR crossover vehicle, in China.
Johan van Zyl, who heads Toyota’s European unit, cautions that the cost of pure electric vehicles will remain high for many years. He says that fact will make EVs uncompetitive with hybrids unless the vehicle selling price is subsidized by manufacturers and/or government programs.
Europe’s tightening carbon dioxide emission limits are driving a wave of new EV models regardless of the economics. Toyota tells reporters its model mix in Europe will reflect what customers are willing to pay for.
Lithium-ion batteries have become the technology of choice for EVs, and falling costs and rising energy levels could keep them on top for nearly two decades.
Chinese electric-car startup Nio Inc. is forming a manufacturing joint venture with Beijing E-Town International Investment and Development Co., which is investing 10 billion yuan ($1.5 billion) in the business.
Hyundai enters the American market with a new parallel hybrid system that uses lithium-polymer batteries and the same six-speed automatic found in non-hybrid versions of the 2011 Sonata.