In a speech, Shigeki Terashi, Toyota's powertrain chief, outlined the company's revised electric vehicle plans.
As part of its new accelerated timeline, the company is now planning to launch 10 EVs into global markets by the "early 2020s".
Late last week, Toyota and Subaru confirmed they would jointly develop a new EV architecture. To be known as e-TNGA, it will be flexible enough to support medium and large vehicles with front-, rear- and all-wheel drive configurations.
Toyota and Subaru will also co-develop a mid-size crossover on this platform. Toyota has now confirmed it is also interested in developing a large crossover, and a mid-size SUV, people mover and sedan on e-TNGA.
Working with other automakers will help Toyota speed up development, spread costs and reduce risk. In this vein, Toyota will also team up with Suzuki and Daihatsu to develop a small electric car.
While these models are under development, Toyota will begin its push into the electric market in 2020 with the launch of electric versions of the C-HR and the nearly identical Izoa in China.
For its home market, Toyota is also developing a range of ultra-compact electric cars. Measuring just 2500mm long, these cars will seat just two people, have a maximum speed of 60km/h, and boast a driving range of around 100km.
These models will be targeted at the elderly, the young, corporations and local authorities.
With this latest plan, Toyota expects to hit its target of having electrified vehicles accounting for over half of all sales by 2025, or five years ahead of initial projections.
Toyota predicts it will sell roughly 4.5 million hybrid and plug-in hybrid models in 2025, with a further one million from all-electric and fuel-cell vehicles.