Toyota Finally Moves On EVs—With Big Help From China, Part 1
Japan Announces Huge Subsidy Hikes for EVs (even Tesla), But BYD Subsidy Is Slashed
Source: https://global.toyota/en/company/profile/production-sales-figures/202605.html#
Key Points:
Toyota finally made its first serious move in Battery Electric Vehicles (BEVs)
Impelled by declining sales of gasoline and hybrid cars in key markets
Upgrades and price cuts bring BEVs to 4.5% of Toyota’s global sales in May, up from 1.9% in 2025
Including PHEVs brings the EV share to 7%
Increase in Japan from a negligible 280 BEVs in Jan-May last year to 11,000 this year, helped by subsidies of ¥1.3 trillion ($13,000 PPP)
China is half of Toyota’s global BEV sales, and its China-only model has 90% Chinese content and technology, making it more like a Chinese car with a Toyota name
Will progress continue or is this just a flash in the pan?
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