[Evan1]

Toyota to start EV production in U.S. in 2025
Japanese automaker aims to ramp up global output to 1m electric vehicles by 2026

Toyota expects to produce about 200,000 EVs in the U.S. annually from 2026 onward. (Photo by Koji Uema)
Nikkei staff writersFebruary 21, 2023 20:28 JSTUpdated on February 22, 2023 01:11 JST
NAGOYA, Japan -- Toyota Motor will start producing electric vehicles in the U.S. state of Kentucky as early as 2025, Nikkei learned Tuesday, as it tries to capture growing demand for clean-energy cars.
The Japanese automaker will update an existing factory to make electric models alongside gasoline-fueled autos. It intends to produce 10,000 electric sport utility vehicles monthly by the end of 2025.
The move capitalizes on new government incentives in the U.S., which is Toyota's largest market, making up one-fifth of its global sales. Last year's Inflation Reduction Act offers tax credits of up to $7,500 for purchases of new electric vehicles assembled in North America.
Together with a battery plant slated to open in North Carolina by around 2025, the Kentucky factory will let Toyota make electrics entirely in the U.S., from key components to final assembly.
Toyota aims to make about 200,000 electric vehicles in the U.S. annually from 2026 onward, accounting for nearly 20% of its output there, along with production in Japan, China and India. It plans to supply 1 million worldwide per year by that time.
Incoming President Koji Sato has signaled that he will make pivoting to electrics a priority.
Despite being the world's largest automaker, Toyota produced just 24,000 EVs worldwide under its own and the Lexus brands in 2022, compared with the 1.31 million units sold by Tesla. Plans call for increasing global EV sales to 3.5 million units a year by 2030.
British market research firm LMC Automotive forecasts global EV sales of 36.71 million vehicles in 2030, roughly quintupling from 2022 and representing 35% of the new-car market.

Video:

Toyota to start EV production in U.S. in 2025

Japanese automaker aims to ramp up global output to 1m electric vehicles by 2026

asia.nikkei.com

 

[Mapleev]

It was a Beta / VHS choice for Toyota, Honda and a couple others, and they chose Beta.

 

[CTAPRN]

Yeah, I think Toyota missed their opportunity and are still missing it. The bZ4X is a terrible introduction into the EV space: sub par range (especially for the price) - as low as 222 mi (355 km) for the AWD, Car and Drive had done a range test and got 160 mi (256 km). That's pretty abysmal for the $40-50k US price range. Charging to 80% is just under an hour. Also the wheels were falling off for their first recall that happened very early on. Up until Toyoda stepped down as CEO they were the top offender for pushing anti-EV lobbying in the industry (likely because their bread and butter has been their success with the hybrid). At this point, Tesla, GM (Chevy, Cadillac, GMC), Ford, VW, Hyundai, Kia all have multiple very respectable EV offerings (Nissan looks OK with the Ariya but the Leaf has been a stalwart for years...but many issues with battery degradation, etc. - CHAdeMO has got to go haha). Subaru doesn't count as the Soltera is the bZ4X with just different skin (same recall issues). Our only car for the past 5 years since we got the ID.4 has been a 2010 Prius (I'm the main driver for this at the moment)...and it's great! Fantastic car - best build quality and reliability I've had for a car. But they really missed an opportunity to come out with something over the past 3 years. 2026 is just too late, by that point there will be so many options in the market (that are likely far better), they will have to rely on a loyal customer base. They lost me, though. I was hoping to stay with Toyota but even if they qualified for the U.S. federal tax credit, I wouldn't bother.

 

[Steverino]

Yes, Toyota seemed to fumble the EV transition, but it's still early days. I think this will be good for the market overall. More competition for Tesla but the overall market is growing so there will be room for all.

 

[CTAPRN]

Agreed. Room for all. And all are welcome in the arena. I think by 2030, Tesla will likely no longer have a majority share of EVs in N.A., but I also don’t think Toyota will regain its position as the leader as it has with hybrid technology. But also, I’m just some guy with zero experience in business, engineering, or software design so…lol. I’m just excited to be along for the ride and to participate early on.