NAGOYA/FRANKFURT — Toyota Motor is making moves to accelerate its production of electric vehicles in Europe, increasing the share of EVs for its new car sales in that market to 20% by 2026, the head of the company’s European business told Nikkei in a recent interview.
With the Japanese auto group facing growing competition from European and Chinese rivals, the key to achieving its goal will be to build up cost-effective supply chains in the region from scratch.