Asia Tech Wire (Sep 6) -- Toyota Motor has sharply lowered its global electric vehicle production forecast for 2026, according to Nikkei.

According to the report, Toyota plans to significantly slow down its EV production, cutting its 2026 global production forecast to 1 million units, about 30% lower than its previously announced sales forecast for the year.

Toyota has reportedly informed its component suppliers of the decision.

Under the new plan, Toyota aims to produce slightly more than 400,000 EVs in 2025 and more than double production the following year.