Toyota Motor Corp will introduce 10 new battery-powered models and target sales of 1.5 million EVs a year by 2026, aiming for steep growth in a market where it has long been lapped by rivals.

The world’s largest automaker by sales will also set up a new, specialised unit to focus on next-generation battery EVs, senior executives said at a briefing on Friday as they outlined plans under its new leadership team.

Toyota, including its Lexus luxury brand, currently has just three battery models on the market and last year sold fewer than 25,000 of those worldwide.

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