Toyota delays production of US-made EVs until 2026 [FOX Business Network]
Toyota Motor Corporation (TM)
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Source: FOX Business Network
Japanese automobile manufacturer Toyota is postponing plans to produce electric vehicles in the United States until 2026. Toyota Motor announced the delay is due to adjustments in design and falling demand for electric vehicles in the market. "We've always said it would be late 2025, and it could creep into 2026. And it does look like it's going to creep into 2026," Toyota spokesperson Scott Vazin said, according to Reuters. Toyota also canceled plans to produce SUVs in North America by 2030 under its Lexus line. Instead, the company will reportedly import stock from its plants in Japan Toyota has invested over $1 billion in its Kentucky manufacturing plant ahead of its move into electric vehicle production Electric vehicle production at the plant is now expected to begin in the first half of 2026. Toyota previously hoped to produce approximately 1.5 million electric vehicles in 2026, but this shift in production could threaten the goal's feasibility.
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