As reported by Ukrinform, this was reported by Bloomberg.

Koji Sato, Toyota’s new CEO, also announced that it plans to sell 1.5 million electric cars each year to meet its commitment to halve emissions by 2035 and to be carbon neutral by 2050.

Planning to increase production of bZ-series cars in developed markets, the company plans to produce a domestic battery-powered SUV in North America by 2025, while simultaneously increasing production of its battery factories.

Toyota plans to add two locally developed electrified models in China by 2024, while in Asia it plans to focus on battery pickups and compact electric vehicles.

Building a custom electric vehicle platform from the ground up is a top priority for Toyota as Sato aims to help the Japanese automaker usher in a new era of electrification and smart vehicles.

Toyota is the world’s largest automaker and Japan’s largest employer. As such, decarbonizing the company’s cars is of paramount importance to the island nation’s mission to reduce emissions, stop fossil fuel use and mitigate climate change.

As reported by Ukrinform, the Tesla company plans to expand the use of cheaper iron-based batteries, installing them in electric trucks and a future cheaper passenger car version.