Toyota's Czech EV Move Hints at European Strategy Shift

Toyota picked the Czech Republic for its first European electric car plant 🚀. Big news. The Japanese car maker will build EVs at its existing Kolin facility, where it already makes small cars for Europe.

They're dropping about €680M to grow the site. A new battery assembly facility will pop up too 🏭. Czech officials seem pretty excited—they're throwing in up to €64M for the battery project.

Timing feels important. Cars make up roughly 10% of Czech GDP. Prime Minister Fiala called this deal crucial. Keeping manufacturing alive. Toyota must see something promising in the Czech economy 📈.

Nine fully electric models coming to Europe soon. Both Toyota and Lexus badges 🌕. 2025 and 2026 are the target years. Not entirely clear how many will actually come from this plant, though.

The Kolin factory isn't new. It makes Aygo X and Yaris Hybrid now. About 220,000 cars yearly. Adding EVs kinda changes everything for them 🔋.

Toyota's been weird about EVs. While Volkswagen and Stellantis jumped all-in on electric, Toyota held back. Kept making hybrids. Turns out this was kind of brilliant when EV demand wobbled recently 📊.

Their hybrids? Still selling like crazy in America. Hybrids just work for people. Less range anxiety. Cheaper too. Toyota gets this 💡.

So this Czech investment? It's Toyota having it both ways. Hybrids plus electrics. Smart move. They're reading the room globally 🌍.