Toyota confirms carbon neutrality by 2050

Toyota announced the results for the fiscal year ended March 31, 2021. The plan for how the company will achieve climate neutrality by 2050 was also presented, with an approach based on a variety of technologies to ensure that all customers are included.

Toyota achieved global sales of 7.6 million units, a decrease of 1.3 million units compared to the previous financial year. On a consolidated basis, the company achieved net income for the period of 27.2 billion yen, a decrease of 2.6 billion yen. Operating profit was reduced from 2.4 billion yen to 2.2 billion yen, while profit before tax was 2.9 billion yen. The annual result increased from 2 billion yen to 2.2 billion yen.

Toyota is fully committed to the goals of global carbon neutrality by 2050 and will continue to invest in a variety of low-emission technologies and innovative solutions that ensure we meet the needs of our customers in each country and region.

Toyota is committed to carbon neutrality for all, not just select groups or regions. For the automotive industry, carbon neutrality means achieving zero CO2 emissions in all processes throughout the life cycle consisting of production, transport, driving, filling or charging, and recycling or scrapping of cars. Some believe that concentrating resources on one technology solution will enable us to achieve the goals of carbon neutrality the fastest. Toyota, for its part, believes that investing wisely in a variety of technologies will be a faster and more inclusive way to achieve carbon neutrality worldwide.

Creating electrified low-emission cars for the masses is part of Toyota's DNA. To date, Toyota has sold over 17 million electrified cars worldwide, including nearly two million cars by 2020. Toyota now has 55 practical, reliable and affordable electrified car models in its portfolio, allowing the company to meet customer needs worldwide at the same time. as one strives to deliver the optimal technology that minimizes emissions in each case.

This approach will continue to increase in speed, with Toyota further expanding its global portfolio of electrified models to 70, including 15 battery electric cars, by 2025.

To ensure that these products are as accessible and efficient as possible, Toyota will continue to invest large sums in new battery technology, such as solid-state, and even more efficient electric motors and improved power technology.

At the same time, Toyota will invest heavily in its world-leading hydrogen technology. Toyota believes that fuel cell technology can help decarbonize a large proportion of the world's transport ecosystem. For example, it can help achieve carbon neutrality for trucks and heavy transport, trains, buses, taxis, aviation, shipping and industrial processes.

It is estimated that there are more than 1.4 billion cars in the world today, and most have internal combustion engines. As part of its strategy to achieve carbon neutrality faster, Toyota is exploring and testing various ways to minimize emissions. Hydrogen fuel, in addition to other renewable e-fuel alternatives made from hydrogen and biofuels, can help minimize carbon emissions for the world's existing passenger cars. If this is realized, not only existing infrastructure can be used, but all cars, including those already sold and in use, can achieve a significant reduction in greenhouse gas emissions.

Toyota aims to achieve carbon neutrality by 2050 and believes a variety of technological solutions will get us there the fastest. This will enable companies and authorities to collaborate on available technology for faster results on the road to a carbon-neutral society - by using the solutions and infrastructures that best suit local needs.

There is no single company or country that can achieve carbon neutrality alone. All industries must work together to develop new technology and infrastructure in collaboration with researchers and academia, and with local and national authorities. Toyota wants to maintain its position as a trustworthy partner to build products and solutions that suit each country's residents, to help communities around the world achieve carbon neutrality faster for all types of customers.

Toyota believes that the company has a responsibility to ensure that every customer has the opportunity to choose the most affordable product on the road to carbon neutrality - regardless of market, segment and budget.

While Toyota is working hard to make zero-emission vehicles more widely available to increase the chances of more than 45 million of the estimated zero-emission products, Toyota is also actively working to minimize CO2 emissions for the other 155 million vehicles expected to be sold.

This multidimensional approach to electrification and CO2 reduction in Europe has positive effects. Toyota is a leader in its industry in terms of total CO2 reductions, and at the same time has an increasing presence in the European market.

By 2025, Toyota will offer more than 55 electrified products in Europe, including at least ten zero-emission cars. As a result, Toyota today announces increased ambitions for sales and market share in Europe to 1.5 million units, representing more than 7% of the market. By then, at least 150,000 (10%) will be zero-emission cars, both battery electric cars and hydrogen electric cars. In addition, an additional 1.2 million (80%) will be hybrid or plug-in hybrids, giving a total electrification mix of at least 90% in 2025.