The Japanese automaker needs to close its gap with other automakers in the field of electric vehicle production. That is why the company intends to electrify the second most popular crossover brand in the USA.
Toyota and Lexus sold more than 565,000 vehicles in the US in the first quarter of 2024, of which only 3,500 were electric vehicles, or 0.6% of the total. At the same time, other manufacturers have already achieved double-digit figures.
Despite this, the company is still sticking to its strategy and placing its biggest bets on hybrids, plug-in hybrids (PHEVs), and hydrogen powered vehicles (FCEVs).
However, Toyota previously reported that engineers are working on the development of a new type of battery that will provide a longer resource and a greater range. Also, these batteries should significantly reduce the cost of production, which will lead to a decrease in the price of an electric car.
David Crist, CEO of Toyota USA, said the company “will always be committed to electric vehicles” and announced that Toyota will soon introduce an electric Highlander. He also added that Toyota will expand the PHEV lineup.
It is interesting that last year the Japanese automaker announced its intention to create a three-row electric crossover, which will be assembled at a plant in Georgetown, USA.
Toyota subsequently invested more than $1.3 billion in the venture. CarBuzz journalists report, that the electric version of the Highlander will be assembled at this plant. Besides in the Lexus line a similar car called the TZ will also appear.
It is said that after the launch of the electric Toyota Highlander, the company may also present an electric pickup based on the Tundra and an electric analogue of the Tacoma model. According to rumors, the development of an electric pickup is already underway and the new model will be a direct competitor to the Ford Lightning, Rivian R1T and Tesla Cybertruck.