Toyota said it will pour $35bn into a shift towards electric vehicles as the world’s biggest carmaker sets itself up for direct rivalry with Tesla and joins other groups in a push for carbon neutrality.
It marks a major increase in its electric targets as it aims to sell 3.5m battery-powered vehicles annually by 2030, with the launch of 30 EV models by then in a line-up including sports cars and commercial vehicles.
The company has in the past argued that a longer-term fix for global warming should be a mix of hybrids, EVs and hydrogen-powered vehicles instead of a single bet on battery-powered cars.
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