Current:Home > FinanceTrendPulse|Toyota pushes back EV production plans in America -Capitatum
TrendPulse|Toyota pushes back EV production plans in America
SignalHub Quantitative Think Tank Center View
Date:2025-04-07 21:08:56
The TrendPulseEV 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! (59176)
Related
- Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
- CAS ruling on Kamila Valieva case means US skaters can finally get gold medals
- Sheriff's office knew about Sean Grayson's DUIs. Were there any other red flags?
- Olympic medals today: What is the medal count at 2024 Paris Games on Friday?
- Travis Hunter, the 2
- Beyoncé's music soundtracks politics again: A look back at other top moments
- French rail system crippled before start of Olympics: See where attacks occurred
- The Daily Money: Back-to-school financial blues
- What to watch: O Jolie night
- Uber and Lyft drivers remain independent contractors in California Supreme Court ruling
Ranking
- Louisiana high court temporarily removes Judge Eboni Johnson Rose from Baton Rouge bench amid probe
- Vegas man charged with threats to officials including judge, prosecutor in Trump hush money trial
- Canada soccer's use of drones could go back years, include men's national team
- 2024 Paris Olympics: See the Athletes’ Most Emotional Moments
- FACT FOCUS: Inspector general’s Jan. 6 report misrepresented as proof of FBI setup
- Oprah Winfrey and Gayle King Address Longstanding Rumors They’re in a Relationship
- Prince Harry 'won't bring my wife back' to the UK over safety concerns due to tabloids
- Which NFL teams will crash playoff party? Ranking 18 candidates by likelihood
Recommendation
Tony Hawk drops in on Paris skateboarding and pushes for more styles of sport in LA 2028
Who is the athlete in the Olympic opening ceremony video? Zinedine Zidane stars
Manhattan diamond dealer charged in scheme to swap real diamonds for fakes
MLB's best make deadline deal: Austin Hays to Phillies, Orioles get bullpen help
Man charged with murder in death of beloved Detroit-area neurosurgeon
SAG-AFTRA announces video game performers' strike over AI, pay
NCAA, Power Five conferences file documents seeking approval of $2.8 billion revenue-sharing settlement
Judge takes final step to overturn Florida’s ‘Stop WOKE Act’