by Toyota increases focus on hybrids
Toyota continues to expand its lineup of plug-in hybrids (PHEVs) as the transition to fully electric vehicles progresses slower than expected. The company plans for PHEVs to account for 20% of its U.S. sales by 2030. Currently, Toyota and Lexus already offer PHEV versions of the Prius, RAV4, RX, NX, and TX.
Unlike many competitors focused on electric vehicles, Toyota has chosen a more cautious strategy by betting on hybrids. This approach has proven successful, as demand for EVs has been lower than forecasted. As a result, other manufacturers are forced to revise their electrification plans.
Prospects for PHEV development
Toyota’s leadership has confirmed that the company is working on expanding its plug-in hybrid lineup. One representative stated:
We plan to increase PHEV sales across various models in the coming years. We are also continuously working to extend the electric-only driving range.
Among possible new additions is a plug-in version of the Toyota Grand Highlander, which could utilize technology from the Lexus TX 550h+. However, there is no official confirmation of this yet.
Although PHEVs currently account for only 2.4% of Toyota’s U.S. sales, the company hopes to significantly increase this figure. However, there are certain challenges, including the need to explain the benefits of such vehicles to buyers. This issue has accompanied Toyota since the launch of the Prius over 20 years ago.
Recent data indicates growing popularity of PHEVs: in 2023, sales of such models increased by 39%. This demonstrates the potential of this segment, though overcoming the informational barrier among consumers is necessary for a full breakthrough. The company continues to adapt its plans, considering market trends and technological capabilities.
