The two biggest automakers (Toyota and VW) in the world is now on the precipice of doing what they have always done and that is mass produce vehicles that buyers want to buy.  They have billions of dollars in infrastructure, very high manufacturing tolerances (let’s face it, Tesla is not as tight of a vehicle as they hope people believe and in some respects it is closer to a Kia than it is to a Maserati) and this plant conversion is going to be rapid.   All of the major makers are following suit.  So if you have Tesla shares remember the old adage, buy low and sell high… just saying.

Toyota’s president Akio Toyoda announced at a press conference that the Japanese automaker will introduce 30 new fully electric models by 2030. Reuters reports the move involves a $70 billion commitment to electrify its automobiles.

The carmaker expects to sell 3.5 million electric vehicles worldwide by 2030. That figure accounts for about a third of its present-day vehicle sales of approximately 10 million per year.

This follows Toyota’s November reveal that its all-electric bZ4X will go on sale in mid-2022.

The bZ, which stands for Beyond Zero, will have a manufacturer-estimated range of up to 250 miles for XLE front-wheel-drive models.

Toyota also said its Lexus luxury brand will be fully electric in U.S., European, and Chinese markets by 2030 and globally by 2035.

Other Toyota developments include:

• Building a $1.3 billion electric vehicle battery plant in North Carolina.

• Making internal combustion engines that run on hydrogen fuel.

• Constructing a futuristic city near Mount Fuji to test and showcase automated driving, sustainable energy, and robotics for housing.

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