Japan car company Toyota announced on Tuesday that it will devote USD70 to electrifying its cars by 2030 in order to cut on zero-emission.
Toyota CEO Akio Toyoda said at a press conference in Tokyo his company was still pursuing a multi-pronged, carbon-reduction strategy that also includes hybrid cars and hydrogen-powered vehicles.
The Japanese car company will also develop internal combustion engines that run on hydrogen fuel.
This move comes as a result of tightening nations’ environmental regulations to cut carbon emissions, mainly president Joe Biden aiming to make 50% of all new cars sold in the US to be electric by 2030 in order to cut on vehicle emissions.
Recently, New Zealand pledged to reduce its net greenhouse gas emissions by 50% by 2030, strengthening at the start of the United Nations COP26 climate conference its previous ambitions to limit global warming.
Many other carmaker companies are planning to manufacture hybrid cars, including BMW, with its CEO Olivier Zipse saying his company will start banning internal combustion engine cars starting 2030, replacing them with electric vehicles, according to Reuters.
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