Toyota is betting more Americans are ready for all-electric cars at a time when many of its rivals are hitting the brakes on battery-powered models.
The world¡¯s largest carmaker currently offers in the United States four imported electric vehicles, and will add a fifth this month. Production of a new U.S.-made EV will begin at its Kentucky plant later this year, followed by another model in 2027; that will bring its total battery electric lineup in the U.S. to seven models.
Demand for EVs dropped sharply following U.S. President Donald Trump¡¯s administration¡¯s withdrawal of tax credit and other subsidies last year, but Toyota sees sales gradually rebounding as more buyers warm to the idea of plug-in models, while the Iran conflict¡¯s impact on fuel costs are driving more people to consider EVs. The strategy also reflects the company¡¯s effort to turn its dominance in hybrid gas-electrics into a solid foothold in the EV market as it recalibrates.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.