Current:Home > FinanceToyota pushes back EV production plans in America -TradeWisdom
Toyota pushes back EV production plans in America
View
Date:2025-04-28 00:52:02
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! (73)
Related
- Nearly 400 USAID contract employees laid off in wake of Trump's 'stop work' order
- NTSB to release cause of fiery Norfolk Southern derailment in eastern Ohio at June hearing
- RNC Chair Ronna McDaniel told Trump she'd resign as chair
- When does 'Young Sheldon' return? Season 7 premiere date, cast, where to watch and stream
- Why members of two of EPA's influential science advisory committees were let go
- Kyle Richards’ Galentine’s Day Ideas Include a Game From Real Housewives of Beverly Hills
- 2 officers wounded by gunfire at home that later erupts in flames in Philadelphia suburb
- Vermont police find a dead woman in a container on river sandbar
- A South Texas lawmaker’s 15
- Chiefs' receivers pushed past brutal errors to help guide Super Bowl return
Ranking
- Nearly half of US teens are online ‘constantly,’ Pew report finds
- Vanderpump Rules' Katie Maloney Details Strange Date With This Charlie's Angels Star
- Vladimir Guerrero Jr. wins record $19.9 million in salary arbitration against Blue Jays
- Horoscopes Today, February 7, 2024
- New Zealand official reverses visa refusal for US conservative influencer Candace Owens
- DePauw University receives record-breaking $200M in donations
- DePauw University receives record-breaking $200M in donations
- Mexico overtakes China as the leading source of goods imported to US
Recommendation
John Galliano out at Maison Margiela, capping year of fashion designer musical chairs
Missing U.S. military helicopter found in Southern California; search on for 5 Marines who were on board
Wendy's is giving away free cheeseburgers this week. Here's how you can get one.
Recalled applesauce pouches likely contained lead due to a single cinnamon processor the FDA just identified
Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
Coco Jones, newly minted Grammy winner and 'ICU' singer, reveals her beauty secrets
Britney Spears deletes throwback photo with Ben Affleck after claiming they 'made out'
Ex-Oakland police chief sues city and mayor to get his job back