Current:Home > StocksToyota pushes back EV production plans in America -CapitalWay
Toyota pushes back EV production plans in America
View
Date:2025-04-13 15:36:34
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! (2219)
Related
- US appeals court rejects Nasdaq’s diversity rules for company boards
- Today’s Climate: July 12, 2010
- PHOTOS: If you had to leave home and could take only 1 keepsake, what would it be?
- Save 75% on Kate Spade Mother's Day Gifts: Handbags, Pajamas, Jewelry, Wallets, and More
- Can Bill Belichick turn North Carolina into a winner? At 72, he's chasing one last high
- Eyeballs and AI power the research into how falsehoods travel online
- There's a spike in respiratory illness among children — and it's not just COVID
- Julián Castro on Climate Change: Where the Candidate Stands
- Jamie Foxx gets stitches after a glass is thrown at him during dinner in Beverly Hills
- Game, Set, Perfect Match: Inside Enrique Iglesias and Anna Kournikova's Super-Private Romance
Ranking
- Chuck Scarborough signs off: Hoda Kotb, Al Roker tribute legendary New York anchor
- How does air quality affect our health? Doctors explain the potential impacts
- Endangered baby pygmy hippo finds new home at Pittsburgh Zoo
- Are Democrats Fumbling Away a Potent Clean Energy Offense?
- Will the 'Yellowstone' finale be the last episode? What we know about Season 6, spinoffs
- What we know about Ajike AJ Owens, the Florida mom fatally shot through a neighbor's door
- Cory Booker on Climate Change: Where the Candidate Stands
- Matty Healy Joins Phoebe Bridgers Onstage as She Opens for Taylor Swift on Eras Tour
Recommendation
EU countries double down on a halt to Syrian asylum claims but will not yet send people back
What to know now that hearing aids are available over the counter
WWE Wrestling Champ Sara Lee's Cause of Death Revealed
Property Rights Outcry Stops Billion-Dollar Pipeline Project in Georgia
Will the 'Yellowstone' finale be the last episode? What we know about Season 6, spinoffs
There's a spike in respiratory illness among children — and it's not just COVID
Are Democrats Fumbling Away a Potent Clean Energy Offense?
This Is Prince Louis' World and the Royals Are Just Living In It