Toyota Motor will produce over 10 pure electric vehicles in the early 2020s

Japan's Toyota Motor Corp. (7203.T) said on Monday that in the early 2020s, the company will market more than 10 pure electric vehicles worldwide and could invest more than $ 13 billion (1.5 trillion yen) in research and development of related batteries by 2030.

Toyota Motor Corp. said it needs to accelerate battery development as regulations on vehicle emissions tend to be tighter and the manufacturing capability of powerful batteries must be dramatically increased. Toyota car sales second only to Volkswagen (VOWG_p.DE), the world's second-largest depot.

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Countries such as China and the United States are forcing automakers to produce low-emission vehicles and sparking calls for the development of electric vehicles. Currently, electric vehicles account for only a tiny portion of the global automotive market.

"As a mass-market automaker, we need to expand the number of our electric cars," Shigeki Terashi, the vice-president, said at a briefing in Tokyo. "To promote the widespread use of electric vehicles, we need Enhance our technology development capabilities and address the social impact of related technologies. "