Current:Home > NewsToyota pushes back EV production plans in America -Mastery Money Tools
Toyota pushes back EV production plans in America
View
Date:2025-04-12 21:06:22
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! (7268)
Related
- Trump wants to turn the clock on daylight saving time
- Where Joe Manganiello Stands on Becoming a Dad After Sofía Vergara Split
- Missouri lawsuits allege abuse by priests, nuns; archdiocese leader in Omaha among those accused
- Alabama taps state and federal agencies to address crime in Montgomery
- Google unveils a quantum chip. Could it help unlock the universe's deepest secrets?
- Powerball winning numbers for July 24 drawing: Jackpot at $114 million
- Netanyahu meets with Biden and Harris to narrow gaps on a Gaza war cease-fire deal
- Morial urges National Urban League allies to shore up DEI policies and destroy Project 2025
- In ‘Nickel Boys,’ striving for a new way to see
- Kit Harington Makes Surprise Return to Game of Thrones Universe
Ranking
- Travis Hunter, the 2
- She's a basketball star. She wears a hijab. So she's barred from France's Olympics team
- Paula Radcliffe sorry for wishing convicted rapist 'best of luck' at Olympics
- West Virginia is asking the US Supreme Court to consider transgender surgery Medicaid coverage case
- Megan Fox's ex Brian Austin Green tells Machine Gun Kelly to 'grow up'
- 2024 Olympics: See All the Stars at the Paris Games
- Wildfires prompt California evacuations as crews battle Oregon and Idaho fires stoked by lightning
- Olympic wrestler Kyle Snyder keeps Michigan-OSU rivalry fire stoked with Adam Coon
Recommendation
US wholesale inflation accelerated in November in sign that some price pressures remain elevated
Olympic soccer gets off to violent and chaotic start as Morocco fans rush the field vs Argentina
San Diego Padres in playoff hunt despite trading superstar Juan Soto: 'Vibes are high'
American surfer Carissa Moore knows Tahiti’s ‘scary’ Olympic wave. Here’s how she prepared
The FBI should have done more to collect intelligence before the Capitol riot, watchdog finds
Olympic wrestler Kyle Snyder keeps Michigan-OSU rivalry fire stoked with Adam Coon
It’s a college football player’s paradise, where dreams and reality meet in new EA Sports video game
These Fall Fashion Must-Haves from Nordstrom’s Anniversary Sale 2024 Belong in Your Closet ASAP