Toyota weighing electrical, plug-in Tacoma and Tundra pickups

NEW YORK — Toyota Motor is evaluating an growth of its U.S. truck lineup that might embrace all-electric or plug-in hybrid electrical variations of its Tacoma and Tundra pickups.

Jack Hollis, government vice chairman of Toyota Motor North America, stated the Japanese automaker is assessing its choices to find out what makes essentially the most sense based mostly on anticipated buyer demand and tightening federal emissions and gas financial system laws.

“I do suppose there’s room to develop our total truck footprint. Whether or not or not it’s Tundra, Tacoma or one thing else along with the lineup,” Hollis informed CNBC on Tuesday throughout the New York Auto Discussion board convention. “Whether or not that is a compact or one thing else, I feel it is necessary for us to proceed to see what the shoppers are searching for.”

Toyota has beforehand mentioned a broad lineup of battery-electric vehicles, or BEVs, together with a midsize pickup mannequin, resembling its segment-leading Tacoma. The most recent conversations have launched the potential for plug-in hybrid automobiles, or PHEVs.

Toyota earlier this 12 months stated it would invest $1.3 billion in a Kentucky plant to supply a brand new all-electric, three-row SUV for the U.S. market. The automaker’s Thailand president this week confirmed Toyota will produce a BEV of its small Hilux pickup for world markets, based on Reuters.

Hollis stated the electrical Hilux is “very cool.” He declined to invest whether or not Toyota may carry that automobile to the U.S.

He confirmed, nonetheless, that the corporate is “trying into each” BEV and PHEV variations of the Tacoma and full-size Tundra. The Tundra was final redesigned for the 2022 model-year, adopted by Tacoma final 12 months.

“We’re within the analysis of each,” he stated. “There are the explanation why a BEV can work and there is a motive why PHEV can work. What’s one of the best mixture of these based mostly upon every of these two vehicles and even for 4Runner or Sequoia [SUVs]?”

There are at present 5 all-electric pickup vehicles on sale within the U.S., however they continue to be priced extra in order luxurious automobiles than mass-market fashions. Their costs vary from $50,000 to simply greater than $100,000, and gross sales of the automobiles have largely slowed after automakers rushed all-electric pickups to market.

There are usually not any plug-in hybrid electrical pickups at present on sale within the U.S. Stellantis’ Ram model is anticipated to launch an “extended-range” plug-in automobile with an electrical generator powering an engine later this 12 months.

Toyota is one among a number of firms reassessing its product portfolio amid slower-than-excepted adoption of EVs, and in mild of the Biden administration’s revised emissions guidelines that goal to raised have in mind hybrid and plug-in hybrid electrical automobiles.

José Muñoz, Hyundai president and world chief working officer, told CNBC on Wednesday that the corporate is reevaluating its plans to solely produce all-electric automobiles at a brand new plant beneath building in Georgia.

“Every little thing is on the desk,” Muñoz stated. “We’ll regulate to the market demand and, in the meanwhile, we’re on monitor for what the regulators are requesting.”