Toyota Isn’t Sweating North America Slump
With its strong hold as a global leader, auto maker Toyota Motor Company is optimistic. Even amidst a slump in auto sales in North America, the company does not seem worried.
This appears to be due, in part, to their upcoming lineup of cars. Toyota is preparing to release 10 or more new electric cars in the next few years. The cars will be all electric. Toyota anticipates the unveiling of the EVs (electric vehicles) by the early 2020’s. The Japanese auto maker plans to first introduce the cars in China. Then, they will venture into Japan, Europe, India, and the United States.
The brand is sold in approximately 170 countries. The anticipated popularity and demand of the EV is what is driving Toyota’s plans. It sees the EV as the focus for a strong future.
Additionally, emission regulations continue to be a challenge, not only to Toyota, but to the industry as a whole.
The Toyota electric vehicles are free of CO2. They run strictly on electricity, and the vehicle can be plugged in any where there is an electric power source to charge it. The electric vehicles will be very small in size, and economical to power. Toyota believes the introduction of the EV will be very well received, especially in city driving, where space is at a premium. The auto maker reportedly expects to spend approximately $13.3 billion on further research and development. Toyota plans to continue to perfect and improve the features of the electric car.