Overview
- Toyota now targets about 6.7 million hybrid and plug-in hybrid vehicles in 2028 and plans total output of roughly 11.3 million cars with hybrids near 60% of production.
- U.S. manufacturing will be a focal point, with a previously announced $10 billion investment over five years and an initial $1.4 billion to build hybrid engines and parts at five plants.
- Signals supporting hybrid demand include the end of U.S. federal EV purchase credits, a softened EU 2035 combustion-vehicle phaseout that permits hybrids, and import duties on Chinese EVs that do not apply to hybrids.
- Toyota held an estimated 58% global hybrid share at the end of 2025 and recently added models such as a RAV4 hybrid, with Corolla hybrid production slated for Mississippi after 2028.
- Analysts at GlobalData raised hybrid sales forecasts to 29 million by 2030 as legacy rivals scale back BEV plans, with Ford and GM booking large EV-related charges and recalibrating strategies.