Toyota’s Area 35: The cost-saving plan to make 3.5 million EVs — or whatever customers want

Toyota CEO Koji Sato — Toyota CEO Koji Sato wants to create additional capacity for up to 3.5 million EVs in 2030, possibly including a production version of this sporty EV concept he is seen here unveiling last October at the Japan Mobility Show in Tokyo. (TOYOTA MOTOR CORP.)

Last Updated

November 15, 2024 01:00 PM

TOKYO — In five short years, electric vehicle laggard Toyota wants to boost its global factory firepower to build some 3.5 million EVs annually, without breaking the bank on costly new plants or being buried in heavy over-investment should demand suddenly sour.

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