Toyota weighing electric, plug-in Tacoma and Tundra pickups

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

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

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

Toyota has beforehand mentioned a broad lineup of battery-electric autos, or BEVs, together with a midsize pickup mannequin just like the segment-leading Tacoma. The newest conversations have launched the potential for plug-in hybrid autos, or PHEVs.

Toyota earlier this yr stated it could make investments $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 international markets, based on Reuters.

Hollis stated the electrical Hilux is “very cool.” He declined to take a position whether or not Toyota may deliver 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 mannequin yr, adopted by Tacoma final yr.

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

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

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

Toyota is certainly one of a number of automakers reassessing its product portfolio amid slower-than-excepted adoption of EVs, and in mild of the Biden administration’s revised emissions guidelines that purpose to higher have in mind hybrid and plug-in hybrid electrical autos.

José Muñoz, Hyundai president and international chief working officer, instructed CNBC on Wednesday the corporate is reevaluating its plans to completely produce all-electric autos at a brand new plant underneath development in Georgia.

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