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Toyota ahead of 2020 target with 1.5 million annual electric vehicle sales

Toyota Motor Corp. sold 1.52 million electric vehicles globally in 2017 and is eyeing mass production of battery-powered electric vehicles from 2020.

The Japanese company said its target of 1.5 million sales of electric vehicles in a single year was achieved well before the original target set for 2020. Electric vehicle sales were up 8% in 2017. It hopes to sell 5.5 million electric vehicles a year by 2030 and plans to make available an electric version of all vehicle models across its global lineup from 2025.

"This is a testament from our customers to the quality, durability and reliability of our electrified powertrains, and, thanks to them, has led us to establish a solid and sustainable foundation for mass producing a more diverse portfolio of electrified vehicles across our range moving forward," said Shigeki Terashi, executive vice president at Toyota.

The auto giant said it plans to start mass production of battery electric vehicles in China and India by 2020 followed by Japan, the U.S. and Europe.

Toyota is also targeting annual sales of 1.5 million hybrid vehicles and cumulative sales of 15 million hybrids by 2020.