ToyotaThe world’s biggest automaker, Yokohama, plans to invest 4 trillion Japanese yen ($35 Billion) in the development of 30 fully-electric vehicles.

The CEO Akio Tokyoda stated Tuesday that the goal is to increase worldwide sales of electric cars by 3.5million units per annum by the end the decade.

The majority of Toyota’s electric vehicles are currently sold. hybrid electric carsThese are powered by a combination of an internal combustion engine and battery-operated electric motors. This is only a fraction, however, of current sales for EVs that are battery-only.

Toyoda reports that the Japanese automaker will raise new investments in battery technology from 500 billion to $4.4 billion to 2 trillion. The investment, which would cover both research and capital expenditures, will make up part of Toyota’s 4 trillion-yen overall investment in electric vehicles.

Toyota plans to also invest an additional 4 trillion yen into other electric vehicle types, such as hybrid cars and plug-in hybrids.

Toyoda spoke during an overview of the company’s plans for electric vehicles. Official translations in Japanese of his comments were available.

We believe adapting quickly to future changes is better than trying to predict it, as that is impossible. He said that we want options to be available until our customers find the best path.

Toyota plans to sell 100% of the vehicles sold in North America, Europe and China through its luxury brand Lexus by 2030, as well as globally, by 2035.

Toyota is a pioneer in hybrid cars, but it has been slower than some global rivals like Nissan and BMW to push for battery-only electric vehicles. General MotorsAnd Ford.

The Japanese automaker, Nissan, declined to be a part of a group that included six large car makers, which includes Sweden’s Volvo, last month at the U.N. conference in Scotland. Daimler’sMercedes-Benz to sign a statement to eliminate fossil-fuel vehicles by 2040 according to Reuters.

A top Toyota executive had reportedly told the news agencyThe company doesn’t want to be perceived as an electric car maker but rather as a carbon neutral business.

Toyoda stated that Toyota aims to achieve carbon neutrality in manufacturing plants by 2035.

Rival NissanLast month, it was announced that it would invest 2 trillion yen (around $17.6 billion) over the next five yearsIt will accelerate the electrification process of its product lines. By 2030, it plans to launch 23 more electrified models. Of these, 15 will be fully-electric.