Toyota to Launch 15 EVs Globally by 2027, Eyes Significant Growth in India in FY26

New Delhi, April 8, 2025 — Global auto giant Toyota is accelerating its push into the electric vehicle (EV) market with plans to launch 15 in-house-developed electric models by 2027, according to a report by Nikkei. The Japanese automaker, which has been relatively slow in adopting full-electric mobility compared to its competitors, is now aiming for aggressive volume expansion in both global and Indian markets.

Toyota’s EV Strategy: 15 New Models by 2027

Toyota’s latest strategy marks a clear shift toward electrification. The 15 upcoming EV models, including some under the Lexus luxury badge, are part of Toyota’s move to independently develop its EV lineup, distancing itself from joint ventures or rebadged models like those co-developed with Suzuki.

These EVs are expected to cater to various global markets, with production hubs expanding beyond Japan and China to include the United States, Thailand, and Argentina. This international expansion is aimed at minimizing tariffs, managing currency risks, and optimizing delivery times.

Despite a slow start in the EV race, Toyota sold approximately 140,000 electric vehicles globally in 2024, accounting for just under 2% of its total volume. By 2027, Toyota aims to reach 1 million EVs per year, with 800,000 units planned for 2026. These numbers, though more modest than original projections of 1.5 million units by 2026, reflect a realistic recalibration in response to evolving global demand and supply challenges.

Strong Focus on Indian Market for FY26

In India, Toyota Kirloskar Motor (TKM) is planning an aggressive growth strategy for FY26, backed by record performance in FY25. The company dispatched 337,148 units in FY25, marking a 28% increase from the previous year. March 2025 alone saw 30,043 units sold, an 11% jump from March 2024.

TKM Vice President Varinder Wadhwa emphasized the importance of expanding sales networks, particularly in Tier II and Tier III cities, and continuing the push for SUVs, MPVs, and electrified vehicles.

“We believe, with our widened portfolio—from small cars to flagship models—alongside increased production and rural outreach, Toyota will play a much bigger role in India’s automobile growth story,” Wadhwa stated.

The company currently operates over 1,100 sales outlets across India and plans to enhance rural accessibility. Furthermore, TKM is exploring battery electric vehicles (BEVs) for the Indian market as part of its carbon neutrality goals.

Toyota’s Global and Indian Outlook

As Toyota aims for scale and sustainability, the dual focus on expanding EV production globally and strengthening its Indian footprint reflects the brand’s commitment to long-term growth. By diversifying EV development, entering rural markets, and boosting SUV and MPV sales, Toyota appears well-positioned to consolidate its role in the global and Indian automotive sectors.