Published on : Nov 17, 2017
Toyota Motor Corp. has announced that their electric vehicles will be entering Chinese market as early as by 2020. In addition to that, the world’s largest automotive company is also planning to introduce battery-powered autos in the most populated country of the world. The autos have been developed by Toyota’s local partnering company in Japan, making a move according to the tightening environmental policies from Beijing.
At an auto show in Guangzhou on Friday, Toyota’s China operations head, Hiroji Onishi, revealed that the company notices the expanding demand for EVs in the country and collaborate in joint-ventures to tap on the trend of fuel-cell vehicles and plug-in hybrids.
It must be noted that Toyota has halted the production of RAV4 EV in 2014 and this marks a return for them into the market for battery-powered vehicles. Couple of months ago, Toyota’s President, Akio Toyoda, had agreed that that decision to halt production of EVs has pushed the company behind the competition in the EV segment, which has gained tremendous traction in the recent past owing to the impending cap-and-trade policy in China that is linked to zero- to low-emission cars. The regulation will be enforced from 2019, and players such as Volkswagen AG, Ford Motor Company, Daimler AG, and Honda Motor Co. are currently ahead of the curve.
It must be noted that in order to comply with the new proposal, the vehicles will have to be manufactured in China itself, although the company has not yet revealed where their electric vehicles and their parts will be produced.