Toyota to Boost Hybrid Production by 30% by 2028, Targeting 6.7 Million Units

Hybrid Share to Rise from 50% to 60%

Toyota Motor Corporation of Japan is reportedly planning to sharply increase its production of hybrid vehicles by 2028.

Logo of Toyota Motor Corporation, Japan. Provided by Yonhap News

According to the Nihon Keizai Shimbun on February 4, Toyota Motor Corporation recently presented major parts suppliers with a plan to produce 6.7 million hybrid vehicles in 2028. This is about a 30% increase from this year's planned volume.

The overall vehicle production plan, including gasoline-powered cars, will also be expanded. Toyota's total production plan for 2028 is about 11.3 million vehicles, which is expected to be a 10% increase from this year.

If the plan is carried out without setbacks, the share of hybrid vehicle production at Toyota, including plug-in hybrid vehicles (PHVs), is expected to rise from 50% in 2026 to 60% in 2028.

In addition, Toyota plans to expand investment in engine and parts plants for hybrid vehicles, mainly in the United States. In November last year, Toyota already announced that it would invest up to 1.5 trillion yen in the United States over the next five years, which is about 14 trillion won in Korean currency.

The Nihon Keizai Shimbun analyzed, "As policies that had supported the expansion of electric vehicle (EV) adoption in Europe and the United States are being scaled back one after another, demand for hybrid vehicles is increasing again," adding, "Accordingly, automakers are moving to completely revise their eco-friendly vehicle strategies."

This content was produced with the assistance of AI translation services.