Toyota sold a record number of vehicles last month. Pure EV sales rose by 127% in November but still only accounted for 1% of Toyota’s total volume.
Toyota has been arguably the biggest laggard in the auto industry’s shift to fully electric vehicles.
The Japanese automaker has lobbied against stricter emissions rules for years. Known for being a pioneer in hybrid tech with the first-gen Prius launched in 1997, Toyota has refused to join the transition.
After longtime Toyota leader Akio Toyoda stepped down earlier this year, some expected to see the company turn things around.
Despite Koji Sato, former Lexus chief branding officer, taking the reigns in April, Toyota’s greenwashing has mostly stayed the same. Despite most governments moving toward an all-electric future, Toyota continues to push its hybrid strategy, including EVs, hybrids, and plug-in hybrids.
Because of this, the automaker is losing ground in key markets like Thailand and Latin America. Although EV sales rose 127% in November, BEVs still only account for 1% of Toyota’s total volume.
Toyota EV sales rise in November, but hybrids dominate
Toyota sold 9,406 EVs in November (including Lexus), up 126.8% over last year. The automaker has now sold 95,220 EVs globally through the first 11 months of the year, up 413% YOY.
EV sales in Japan are lagging behind global markets. Toyota sold 186 electric vehicles in its home country in November compared to 9,220 globally. Meanwhile, hybrids continue dominating Toyota’s overall output.
Toyota sold 322,463 hybrids in November, bringing the 2023 total to 3.1 million. That number is up nearly 30% compared to this time last year.
Overall sales reached 905,066, a new record. Toyota has now sold over 9.3 million vehicles this year.
Toyota credited the growth to hybrids like the RAV4 and Corolla in North America and Europe. Amid the growth, Toyota is likely to keep its title as the top-selling carmaker (for now).
Electrek’s Take
Despite hitting a new sales record in November, global EV sales also hit a new high. EV leaders like Tesla and BYD continue gaining share in key global markets.
Tesla’s Model Y is on track to become the best-selling vehicle globally (electric or gas), overtaking the Toyota Corolla. How long can Toyota rely on hybrids? EV sales are only expected to continue climbing as new models are introduced and charging infrastructure continues expanding.
Research from BloombergNEF shows “no sign of an EV slowdown” despite the recent negative headlines.
Global passenger EV sales are expected to reach 14 million this year, up 36% from last year. In the US, sales are growing even faster and are expected to grow 50% in 2023.
Although some automakers like Ford and GM have pushed back EV initiatives, others are doubling down, like Hyundai and Volvo.
These companies expect to see EV demand continue climbing with new electric models like the Volvo EX30, starting at $35,000, hitting the market.
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Leading electric vehicle analyst, author, and industry thought leaders Loren McDonald and Bill Ferro stop by Quick Charge to discuss EV Adoption’s acquisition by Paren, the “crisis” of EV charging reliability, and the real state of the EV market.
Depending on who you listen, EVs are either driving brands to record growth and are about cross that critical 10% of the overall market nationwide, or the future is bleak, the market is down, and EVs just aren’t selling. What’s really going on? Loren and Bill (probably) have some answers.
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Chevy EV owners in Texas who have Reliant as their electric utility can now charge for free at night with renewable energy.
Over 150 Chevrolet dealerships across Texas are now offering the Reliant Free Charge Nights plan to new EV buyers. With Free Charge Nights, customers can offset their charging costs by receiving credits for electricity used between 11 pm and 6 am. The plan is powered entirely by renewable energy, thanks to the purchase of renewable energy certificates (RECs).
Rasesh Patel, president of NRG Consumer, says the plan is about making power personal: “We’re excited to help Chevrolet EV drivers offset the cost of charging their vehicle all while having access to a renewable electricity plan.”
This collaboration aims to make EV adoption more appealing by making charging cheaper and greener. GM Energy’s chief revenue officer, Aseem Kapur, emphasized that partnerships like this help build the ecosystem needed to support an all-electric future: “The Reliant Free Charge Nights plan is a great example of how an automaker and an energy company can work together to make EV adoption an easy decision.”
Existing Reliant customers can also sign up for the Free Charge Nights plan. To get started, Chevrolet EV owners need to designate their vehicle on the GM Energy Smart Charging Portal before enrolling in the plan.
Reliant Energy, a subsidiary of NRG Energy, serves over 1.5 million customers in Texas, making it one of the largest electricity providers in the state.
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Texas is about to get a major power boost – a new AI-powered virtual power plant (VPP) delivering capacity equivalent to 200,000 homes during peak demand.
NRG Energy is teaming up with Renew Home to bring nearly 1 gigawatt (GW) of capacity to the Texas grid by 2035, aiming to make it more resilient while helping residents save on energy costs.
The new VPP will rely on hundreds of thousands of smart thermostats and other connected home devices, making use of AI technology provided by Google Cloud. These devices, like Vivint and Nest smart thermostats, will be offered to eligible customers at no cost. By automating HVAC adjustments, they help shift energy use to when electricity is cheaper, cleaner, and less strained.
NRG and Renew Home have big plans for the VPP. Starting in spring 2025, the companies plan to roll out the program across Texas, installing these smart thermostats in homes served by NRG’s retail electricity providers. Eventually, they plan to add home battery storage and EVs to expand the power plant’s capabilities.
Texas has faced record-breaking energy demands, with peak usage hitting 85 GW in 2023. As the state’s population grows and extreme weather becomes more frequent, VPPs like this one could play a key role in stabilizing the grid. VPPs aggregate a lot of small-scale energy resources, from smart thermostats to home batteries, and use them to help balance supply and demand during times of high stress on the grid.
This nearly 1 GW VPP will be one of the largest of its kind in Texas. NRG’s president of consumer operations, Rasesh Patel, calls it a “pivotal step” for improving customer experience while making Texas’ energy infrastructure more sustainable and resilient.
In addition to Renew Home, NRG is working with Google Cloud to maximize the power plant’s effectiveness. Google Cloud’s AI and analytics tools will help predict weather conditions, forecast renewable generation, and optimize energy usage, all of which will help make energy management smoother for both customers and the grid.
Ben Brown, CEO of Renew Home, said:
NRG’s commitment to creating a more resilient and sustainable energy future while also making electricity bills more affordable makes them an ideal partner for co-developing this unique VPP program.
This initiative raises the bar for future-proofing our electricity infrastructure and delivering cost savings to customers.
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