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Manila Bulletin devider Business devider Toyota targets 50% EV fleet by 2040

Toyota targets 50% EV fleet by 2040

Published Oct 27, 2024 09:14 pm

In a move towards sustainable transportation, Toyota Motor Philippines has unveiled its latest hydrogen-powered vehicle, contributing to the government's goal of increasing the fleet of electric vehicles (EVs) in the market by 2040.

During Toyota's Beyond Zero media conference on Saturday, Oct. 26, the company presented its prototype vehicle utilizing H2 technology as part of its strategy to diversify the country's mobility demands.

Josephine Villanueva, from Toyota’s corporate affairs group, emphasized the importance of the country’s roadmap for EV adoption, expressing the company's support for the government’s Electric Vehicle Industry Development Act (EVIDA).

EVIDA aims to reduce dependency on imported fuel in the transport sector, foster an environment conducive to the development of EVs, and promote clean, sustainable, and efficient energy through low-emission strategies that enhance the country’s energy security and independence.

Masando Hashimoto, president of Toyota Philippines, stated that the firm's development of hydrogen fuel, along with other EV concepts, marks a milestone in their mission to expand their EV fleet.

“Today’s activity demonstrates that we are no longer in the ‘Conceptual’ or ‘Experimental’ phase. Toyota is delivering tangible results,” he said.

“All these efforts illustrate that hydrogen holds great potential. Our goal is to reduce CO2 emissions through various solutions, extending beyond mere electrification. Toyota aims to unlock more possibilities for the Philippines as well.”

Hashimoto further aims to enhance public perception of hydrogen as a “safe fuel” that can significantly reduce carbon emissions. In its media presentation, Toyota outlined its three-pronged approach to clean vehicle innovations: “Electrification,” “Diversification,” and “Intelligence.”

Under the Electrification strategy, Toyota detailed its diverse range of EVs, including Hybrid Electric Vehicles (HEVs), Plug-in Hybrid Electric Vehicles (PHEVs), Battery Electric Vehicles (BEVs), Fuel-Cell Electric Vehicles (FCEVs), and even Internal Combustion Engine Vehicles (ICEVs) powered by carbon-neutral fuels and hydrogen.

The Diversification aspect will enable the company to explore various energy resources, particularly in Asia, to ensure self-reliance and security. Meanwhile, the Intelligence approach will leverage data and technology to develop a more sustainable mobility ecosystem.

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