Source: Gasgoo
Toyota Motor is evaluating plans to expand its U.S. truck lineup, which could include pure electric or plug-in hybrid versions of its Tacoma and Tundra pickup trucks.
Jack Hollis, executive vice president of Toyota North America, said the company is evaluating options to determine what makes the most sense in customer demand and also the tightening of federal emissions and fuel economy regulations.
“I think we have room to grow our entire truck business,” Hollis said in an interview. Whether it’s a Tundra, Tacoma or something else, we have to continue to meet the needs of our customers.
Image source: Toyota
Toyota has previously discussed plans to expand its lineup of all-electric vehicles, including midsize pickups such as the Tacoma, which is a leader in the segment. In the latest plan, Toyota has added a plug-in hybrid version of the pickup.
Toyota said that it would invest $1.3 billion to build a new all-electric three-row SUV for the U.S. market at a plant in Kentucky. The president of Toyota Motor Thailand also confirmed last week that Toyota will produce a pure electric version of the small Hilux pickup truck for the global market.
Hollis said the electric version of the Hilux is “pretty cool,” but he refused to say whether Toyota would bring it to the U.S. market. However, he confirmed that Toyota is “working on” all-electric and plug-in versions of the Tacoma and the full-size Tundra pickup.
There are currently five all-electric pickups on sale in the United States, but their prices are generally higher and close to the luxury car level. The price of these models is more than $50,000, and some of them even exceed $100,000. The high price making them unaffordable for most consumers. Sales also largely slowed after several car companies rushed to release all-electric pickups.
Stellantis’ Ram brand is expected to launch an “extended-range” electric truck with an engine powered by a generator later this year.
The move comes after the Biden administration revised emissions rules aimed at better promoting hybrid and plug-in hybrid electric vehicles. Toyota is one of several automakers reevaluating their product since the adoption of electric vehicles is slower than expected.
Jose Munoz, Hyundai’s president and global chief operating officer, said that the company was reviewing its plans to build exclusively all-electric vehicles at a new plant under construction in Georgia. “We will look at all possibilities,” Munoz said last week. The company will adjust their plans according to market demand and the requirement from regulators.
