Current:Home > MyToyota pushes back EV production plans in America -TrueNorth Finance Path
Toyota pushes back EV production plans in America
View
Date:2025-04-16 10:38:23
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! (8)
Related
- Travis Hunter, the 2
- Editors' picks: Our best global photos of 2022 range from heart-rending to hopeful
- Bernie Sanders on Climate Change: Where the Candidate Stands
- Tabitha Brown's Final Target Collection Is Here— & It's All About Having Fun in the Sun
- Paige Bueckers vs. Hannah Hidalgo highlights women's basketball games to watch
- Hydrogen Bus Launched on London Tourist Route
- Mall operator abandons San Francisco amid retail exodus from city
- Dangers Without Borders: Military Readiness in a Warming World
- Which apps offer encrypted messaging? How to switch and what to know after feds’ warning
- MacKenzie Scott is shaking up philanthropy's traditions. Is that a good thing?
Ranking
- Civic engagement nonprofits say democracy needs support in between big elections. Do funders agree?
- Qantas on Brink of £200m Biojet Fuel Joint Venture
- Global Warming Is Messing with the Jet Stream. That Means More Extreme Weather.
- How Tom Brady Honored Exes Gisele Bündchen and Bridget Moynahan on Mother's Day 2023
- Why we love Bear Pond Books, a ski town bookstore with a French bulldog 'Staff Pup'
- The sports world is still built for men. This elite runner wants to change that
- Illinois Lures Wind Farm Away from Missouri with Bold Energy Policy
- Why Scheana Shay Has Been Hard On Herself Amid Vanderpump Rules Drama
Recommendation
This was the average Social Security benefit in 2004, and here's what it is now
3,000+ young children accidentally ate weed edibles in 2021, study finds
Why Scheana Shay Has Been Hard On Herself Amid Vanderpump Rules Drama
Is it time for a reality check on rapid COVID tests?
DeepSeek: Did a little known Chinese startup cause a 'Sputnik moment' for AI?
The FDA approves an Alzheimer's drug that appears to modestly slow the disease
California’s Wildfire and Climate Change Warnings Are Still Too Conservative, Scientist Says
You'll Burn for Jonathan Bailey in This First Look at Him on the Wicked Set With Ariana Grande