Chinese market very important to company transformation: Toyota chief

TOKYO, April 26 (Xinhua) -- China leads the world in car electrification and intelligence, and Toyota Motor's performance in the Chinese market is very important for guiding the company's transformation, world auto giant's President Koji Sato has said.

At the Shanghai International Automobile Industry Exhibition that kicked off on April 18, Japanese automaker Toyota unveiled two bZ series models to be launched in the Chinese market next year. Its hydrogen engine models also appeared on display during the auto show.

In Japan, electric vehicles (EV) include hybrid vehicles, plug-in hybrids, hydrogen fuel cell vehicles, etc., while battery electric vehicles (BEV) refer to pure electric ones with rechargeable batteries and no gasoline engine.

On the one hand, Toyota will effectively promote the popularity of EVs that are currently well established, strengthen hybrid vehicle sales in global markets including emerging markets, and increase plug-in hybrid vehicle options, Sato said in a recent interview with foreign media in Tokyo.

Sato added that, on the other hand, in the next few years, the lineup of BEVs will be vigorously expanded, and the development of pure electric vehicles will be accelerated under the background of the continuous development of the global carbon neutrality and the increasingly fierce competition in the new energy vehicle market.

Toyota has announced earlier its plans to introduce 10 BEV models and raise its annual global BEV sales to 1.5 million units by 2026. Analysts believe that this is an important signal to develop BEVs for Toyota, which sold only 24,000 units in 2022 in the global BEV market.

The veteran engineer said that Toyota will focus on the future, boldly develop next-generation BEVs, promote the mass production of commercial fuel cell electric vehicles, continue to develop the hydrogen engine technologies in the arena of motor sports, deepen cooperation with partners across industries and countries, and jointly promote the utilization of hydrogen energy and the realization of the hydrogen society.

In terms of new energy vehicle manufacturing, diverse options will be provided to customers according to the future energy situation and the unique reality in each region, Sato added.