Current:Home > FinanceToyota pushes back EV production plans in America -Elevate Money Guide
Toyota pushes back EV production plans in America
View
Date:2025-04-14 07:02:21
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! (2)
Related
- Kylie Jenner Shows Off Sweet Notes From Nieces Dream Kardashian & Chicago West
- Car crashes into a West Portal bus stop in San Francisco leaving 3 dead, infant injured
- North Carolina lands syringe-manufacturing plant that will employ 400
- Want the max $4,873 Social Security benefit? Here's the salary you need.
- 'Vanderpump Rules' star DJ James Kennedy arrested on domestic violence charges
- Open seat for Chicago-area prosecutor is in voters’ hands after spirited primary matchup
- Chinese billionaire pleads guilty to straw donor scheme in New York and Rhode Island
- Indiana Gov. Eric Holcomb signs proclamation condemning antisemitism while vetoing bill defining it
- Most popular books of the week: See what topped USA TODAY's bestselling books list
- Caitlin Clark and Iowa get no favors in NCAA Tournament bracket despite No. 1 seed
Ranking
- San Francisco names street for Associated Press photographer who captured the iconic Iwo Jima photo
- An Alabama sculpture park evokes the painful history of slavery
- Ariana Grande and Dalton Gomez are officially divorced
- Trump is making the Jan. 6 attack a cornerstone of his bid for the White House
- The FTC says 'gamified' online job scams by WhatsApp and text on the rise. What to know.
- Shop Customer-Approved Big Hair Products for Thin Hair and Fine Hair
- Astronaut Thomas Stafford, commander of Apollo 10, has died at age 93
- Sheriff’s deputy shot and wounded in southern Kentucky
Recommendation
Buckingham Palace staff under investigation for 'bar brawl'
These new museums (and more) are changing the way Black history is told across America
Pink Shares Hilarious Glimpse at Family Life With Kids Willow and Jameson
4 things to know from Elon Musk’s interview with Don Lemon
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
The longest-serving member of the Alabama House resigns after pleading guilty to federal charges
Biden administration sides with promoter, says lawsuit over FIFA policy should go to trial
Philadelphia man won’t be retried in shooting that sent him to prison for 12 years at 17