Current:Home > InvestToyota pushes back EV production plans in America-LoTradeCoin
Toyota pushes back EV production plans in America
View Date:2025-01-11 08:20:12
The EV market is in constant flux and Toyota has never been ahead of the game, and it's apparently still struggling to catch up. The automaker has been skeptical about EV adoption, and turned out to be mostly right about its predicted slump in the market, but the world is still moving towards all-electric vehicle adoption and Toyota must still eventually adapt. That adaptation is coming a little slower than planned now, as Toyota's plans for U.S.-built EVs have been pushed back a few months, according to a report from Nikkei.
More EVs:The best electric SUVs of 2024
Toyota reportedly had plans for a three-row all-electric SUV model to be built in Georgetown, Kentucky by the end of 2025, but those intentions have now been pushed back a few months to a planned early 2026 production start. Later in 2026, another new all-electric SUV is scheduled to begin assembly at a factory in Princeton, Indiana. The automaker has invested $2.7 billion in the new Kentucky and Indiana facilities so far. A planned Lexus vehicle to be built in the U.S. by 2030 has reportedly also been scrapped.
According to Nikkei, the delay is due to the company making adjustments to the three-row EV's design in light of slowing EV sales in the U.S. overall.
A North Carolina battery plant is expected to begin operations in 2025 to supply future Toyota EVs, with hopes of moving 1.5 million EVs a year globally by the end of 2026. Toyota hopes to have up to seven all-electric new vehicles on sale in the U.S. market by 2026, though obviously none will be assembled in the U.S. until that year. So far it only offers one Toyota and one Lexus EV in America, the sibling Toyota bZ4X and Lexus RZ 450e SUVs. We anticipate the additional five EVs will be mostly SUV models, especially larger ones, but we do expect an electric Tacoma pickup of some sort to come to the U.S. eventually as well.
Photos by MotorTrend Staff and manufacturer
veryGood! (57592)
Related
- QTM Community Introduce
- Support for legal abortion has risen since Supreme Court eliminated protections, AP-NORC poll finds
- Attention BookTok: Emily Henry's Funny Story Is Getting the Movie Treatment
- Jimmy Kimmel shares positive update on son Billy, 7, following third open-heart surgery
- Forget the bathroom. When renovating a home, a good roof is a no-brainer, experts say.
- Case against Army veteran charged with killing a homeless man in Memphis, Tennessee, moves forward
- Struggling to keep mosquitoes away? Here’s how to repel them.
- WADA did not mishandle Chinese Olympic doping case, investigator says
- Trump breaks GOP losing streak in nation’s largest majority-Arab city with a pivotal final week
- Alec Baldwin’s involuntary manslaughter trial begins with jury selection
Ranking
- Judge moves to slash $38 million verdict in New Hampshire youth center abuse case
- Appeals panel keeps 21-month sentence for ex-Tennessee lawmaker who tried to withdraw guilty plea
- Two sets of siblings die in separate drowning incidents in the Northeast
- Alec Baldwin’s involuntary manslaughter trial begins with jury selection
- Tony Todd, star of 'Candyman,' 'Final Destination,' dies at 69
- Emma Watson Confirms New Romance With Oxford Classmate Kieran Brown
- Massive dinosaur skeleton from Wyoming on display in Denmark – after briefly being lost in transit
- Spain vs. France: What to know, how to watch UEFA Euro 2024 semifinal
Recommendation
-
Walmart Planned to Remove Oven Before 19-Year-Old Employee's Death
-
Tobey Maguire's Ex-Wife Jennifer Meyer Defends His Photos With 20-Year-Old Model Lily Chee
-
These are the best and worst U.S. cities for new college grads
-
Dispute over access to database pits GOP auditor and Democratic administration in Kentucky
-
Republican Dan Newhouse wins reelection to US House in Washington
-
NYU settles lawsuit filed by 3 Jewish students who complained of pervasive antisemitism
-
Copa America 2024: Will Messi play in Argentina's semifinal vs. Canada? Here's the latest
-
NYU settles lawsuit filed by 3 Jewish students who complained of pervasive antisemitism