Current:Home > FinanceToyota pushes back EV production plans in America -FundGuru
Toyota pushes back EV production plans in America
View
Date:2025-04-15 16:22:14
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! (34823)
Related
- Meet first time Grammy nominee Charley Crockett
- Stephen Curry talks getting scored on in new 'Mr. Throwback' show
- FACT FOCUS: False claims follow Minnesota governor’s selection as Harris’ running mate
- Olympic Pole Vaulter Anthony Ammirati Offered $250,000 From Adult Website After
- Appeals court scraps Nasdaq boardroom diversity rules in latest DEI setback
- There will be no 'next Michael Phelps.' Calling Leon Marchand that is unfair
- Georgia property owners battle railroad company in ongoing eminent domain case
- Microsoft hits back at Delta after the airline said last month’s tech outage cost it $500 million
- A Mississippi company is sentenced for mislabeling cheap seafood as premium local fish
- Amit Elor, 20, wins women's wrestling gold after dominant showing at Paris Olympics
Ranking
- Toyota to invest $922 million to build a new paint facility at its Kentucky complex
- Keira Knightley Shares Daughter’s Dyslexia Diagnosis in Rare Family Update
- US safety board plans to quiz officials about FAA oversight of Boeing before a panel blew off a 737
- There will be no 'next Michael Phelps.' Calling Leon Marchand that is unfair
- Israel lets Palestinians go back to northern Gaza for first time in over a year as cease
- Olympic women's soccer final: Live Bracket, schedule for gold medal game
- Georgia property owners battle railroad company in ongoing eminent domain case
- For Hindu American youth puzzled by their faith, the Hindu Grandma is here to help.
Recommendation
What to know about Tuesday’s US House primaries to replace Matt Gaetz and Mike Waltz
PHOTO COLLECTION: AP Top Photos of the Day Tuesday August 6, 2024
Devin Booker performance against Brazil latest example of Team USA's offensive depth
NCAA Division I board proposes revenue distribution units for women's basketball tournament
Tom Holland's New Venture Revealed
Rachel Lindsay Details Being Scared and Weirded Out by Bryan Abasolo's Proposal on The Bachelorette
Harris’ pick of Walz amps up excitement in Midwestern states where Democrats look to heal divisions
New England’s largest energy storage facility to be built on former mill site in Maine