Toyota Commits $70 Billion To EVs - Lexus To Become An All Electric Brand

Toyota Motor Corp. committed 8 trillion yen ($70 billion) to electrify its lineup by 2030, half of it to develop a battery electric vehicle lineup, as it looks to tap a growing market for zero-emissions cars.

But the world's biggest automaker, which is a relative latecomer to full-electric cars, said it expected annual sales of full-electric cars to reach only 3.5 million vehicles by the end of the decade, or around a third of its current vehicle sales.

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