Toyota’s electrified vehicles sales could reach 5.5 million annually by 2025

Toyota Motor’s annual global sales of electrified vehicles could reach 5.5 million in 2025, five years before what was initially planned, a senior company executive said at an industry conference on Tuesday.

The automaker in 2017 had announced a plan to sell 5.5 million electrified vehicles, consisting of 4.5 million of hybrid and plug-in hybrid vehicles and 1 million electric and hydrogen fuel-cell vehicles, by 2030.

Seiya Nakao, chairman, and president of Toyota China’s engineering and manufacturing said auto electrification was moving faster than expected and the automaker thinks it can reach the target sooner.

A China-based Toyota spokesman said 2025 was not an official company target.

Toyota sold over 10 million vehicles worldwide last year, including around 2 million electrified vehicles.