Tokyo (Reuters) – Toyota aims to develop about 15 models of electric vehicles on their own by 2027 and direct the production of about a billion cars a year, said the Nikkei newspaper Sunday.

Toyota refused to comment, saying that the information was not announced by the company.

Toyota has five EV models developed at home, making them only in Japan and China, Nikkei said. Extension of production in the United States, Thailand and Argentina can help to cover the rate and currency risks and reduce delivery times, he added.

15 EV models include some under their luxury brand Lexus, said the Daily business. Toyota now hopes to produce about 800,000 units in 2026, indeed down almost 50% of its original plan, added Nikkei.

Toyota said earlier that he intended to sell 1.5 million EV per year by 2026 and 3.5 million by 2030, calling the reference points for shareholders instead of goals.

By 2024, almost 140,000 EVs was sold worldwide, up to a third about a year earlier. They represented less than 2% of their world sales of more than 10 million.

(Report by Daniel Leussink; Richard Chang Editing)