Toyota won’t make electrical SUVs within the US beginning subsequent yr as deliberate. In response to a brand new report, Toyota is delaying manufacturing of recent electrical SUVs within the US by a number of months. The corporate is blaming the holdup on slowing EV gross sales within the US, however are they actually?
Why is Toyota delaying US-made electrical SUVs?
A brand new Nikkei report claims Toyota is pushing again manufacturing of its all-electric three-row SUV in Kentucky till the primary half of 2026.
Final Could, Toyota introduced plans to start assembling the electrical three-row SUV at its Georgetown, Kentucky plant in 2025. The Kentucky facility is Toyota’s largest manufacturing facility globally with as much as 550,000 annual automobile manufacturing.
Toyota invested over a billion within the facility to arrange it for the brand new electrical SUV. Nevertheless, the corporate not too long ago knowledgeable suppliers it is going to be pushing again manufacturing by a number of months.
In response to the report, the corporate is blaming slowing EV demand and rising hybrid gross sales within the US.
Toyota nonetheless expects EV adoption to climb within the US in the long run and can proceed investing in next-gen batteries and different tech.
In the meantime, Toyota can also be scrapping plans to construct new electrical SUVs in North America beneath the Lexus model.
The corporate deliberate to start producing Lexus electrical SUVs within the area by 2030, however new plans name for the automobiles to be shipped from Japan.
North America isn’t the one market during which Toyota is delaying EV initiatives. The auto big not too long ago knowledgeable its provider of plans to lower world EV manufacturing to round 1 million in 2026, down from 1.5 million.
Electrek’s Take
Though the report cites slowing EV gross sales within the US, many automakers are seeing gross sales surge with new fashions hitting the market.
GM surpassed rival Ford after electrical automobile gross sales climbed 60% in Q3. With over 32,000 EVs offered within the third quarter, GM is now on prime of Ford by way of the primary 9 months of 2024. Ford nonetheless offered over 23,500 EVs in Q3 for a complete of 67,689 in 2024. GM has now offered 70,450 electrical automobiles within the US by way of September.
With its “EV for everybody” technique lastly unfolding, GM is beginning to see the outcomes. GM is seeing greater demand with new (competitively priced) fashions in widespread segments, together with the Chevy Blazer, Equinox, and Silverado EVs.
Different automakers, together with Hyundai and Kia, are additionally seeing greater EV demand. Hyundai has offered over 30,000 IONIQ 5 fashions by way of September and can start US manufacturing as early as this month.
Hyundai is opening its huge new EV plant in Georgia this yr, the place it should construct new EVs, beginning with the up to date 2025 IONIQ 5. The brand new 2025 Hyundai IONIQ 5 has much more vary, an improved design, and a Tesla NACS charging port.
In the meantime, Kia is already gaining an edge with its three-row EV9 gaining market share within the US. With one other 2,096 fashions offered final month, Kia EV9 gross sales reached practically 16,000 within the US by way of September.
That’s much more than Toyota, with 13,577 bZ4X electrical SUVs offered by way of September within the US.
So, are electrical automobile gross sales slowing within the US? Or is it only a lack of choices from some automakers?
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