Toyota switches on to electric vehicles to counter Chinese threat
Hybrid pioneer’s push comes as rivals scale back their EV targets
Hybrid pioneer’s push comes as rivals scale back their EV targets

Hit by high EV tariffs, Chinese auto groups have pivoted to selling cheaper, technologically advanced vehicles

Electric-vehicle makers target less affluent heartland for next phase of growth

Contraction in US and cooling Chinese demand are expected hurdles for market

Tesla rival boosted by higher-margin exports as domestic competition intensifies

Strategy pivot coincides with slowdown and fierce competition in world’s largest automotive market

Elon Musk’s carmaker delivered fewer fully electric models than its rival in 2025