Toyota Motor Corporation (NYSE:TM), the world’s largest automaker by volume, is ramping up its electric vehicle (EV) ambitions, with plans to roll out 15 in-house-developed EV models by 2027, according to a report by the Nikkei. The move underscores the company’s long-term pivot toward electrification, despite its traditionally cautious stance on battery-powered vehicles.
Toyota’s Revised EV Strategy
Toyota currently has five EV models developed in-house, manufactured in Japan and China. The company is now looking to expand production into the U.S., Thailand, and Argentina. This shift is aimed at hedging tariff and currency risks, while also improving delivery timelines and market responsiveness.
The automaker had previously set an ambitious goal to sell 1.5 million EVs annually by 2026 and 3.5 million by 2030. However, according to the Nikkei report, the 2026 production forecast has now been revised downward to 800,000 units, nearly 50% below its initial target.
Still, Toyota remains committed to scaling its EV business. In 2024, the company sold nearly 140,000 EVs globally — a 33% increase year-over-year, albeit still under 2% of total global sales.
What’s Driving the EV Expansion?
Toyota’s push to expand its EV lineup and manufacturing footprint appears to be a multi-pronged response to:

Rising protectionism and tariffs on auto imports, especially in the U.S.

EV incentives tied to domestic production, particularly under the U.S. Inflation Reduction Act.

Increasing global demand for battery-electric vehicles across markets like the EU, U.S., and Southeast Asia.

By spreading out production and developing more models internally, Toyota aims to maintain cost control, reduce reliance on supply chains vulnerable to trade friction, and better align with local regulations.

? How Can Investors Track the Impact?
For analysts and long-term investors, it’s critical to evaluate how these EV investments affect Toyota’s overall valuation and capital structure. That’s where the Enterprise Value API comes into play.
This endpoint provides historical and up-to-date metrics such as:

Enterprise Value (EV)

EBITDA

Market Capitalization

Total Debt

Cash & Cash Equivalents

These data points are key to assessing whether Toyota’s EV strategy is adding intrinsic value or straining the balance sheet.

Final Thoughts
While Toyota’s revised targets may appear conservative, its focus on in-house EV development, global production diversification, and tariff mitigation shows a calculated approach. The company may be late to the EV race, but it’s leveraging its global scale to compete effectively under changing geopolitical and regulatory conditions.
For a closer look at how Toyota’s evolving business model is reflected in its valuation, the Enterprise Value API offers an ideal dataset for tracking key financial trends.