Toyota weighs electric pickups, Tacoma and Tundra plug-ins

NEW YORK – Toyota engine is considering an expansion of its truck lineup in the United States that could include all-electric or plug-in hybrid versions of its Tacoma and Tundra pickups.

Jack Hollis, executive vice president of Toyota Motor North America, said the Japanese automaker is evaluating its options to determine what makes the most sense based on expected customer demand and tightening federal emissions and fuel economy regulations. fuel.

“I think there’s room to grow our entire truck footprint. Whether it’s Tundra, Tacoma or something else in addition to the lineup,” Hollis told CNBC on Tuesday at the Auto Forum conference in New York. “Whether it’s a compact or something else, I think it’s important for us to continue to see what customers are looking for.”

Toyota has previously discussed a wide range of battery electric vehicles, or BEVs, including a midsize pickup model, such as its segment-leading Tacoma. The latest conversations have introduced the potential of plug-in hybrid vehicles, or PHEVs.

Toyota earlier this year said it would invest $1.3 billion in a Kentucky plant to produce a new all-electric three-row SUV for the U.S. market. According to Reuters, the automaker’s Thai president confirmed this week that Toyota will produce a BEV of its Hilux small pickup for global markets.

Hollis said the electric Hilux is “very nice”. He declined to speculate whether Toyota might bring that vehicle to the United States

He confirmed, however, that the company is “looking at both” BEV and PHEV versions of the full-size Tacoma and Tundra. The Tundra was last redesigned for the 2022 model year, followed by the Tacoma last year.

“We are in the evaluation of both,” he said. “There are reasons why a BEV can work and there’s a reason why PHEV can work. What’s the best mix between those based on each of these two trucks or even for 4Runner or Sequoia? [SUVs]?”

There are currently five all-electric pickups on sale in the United States, but they remain priced more like luxury vehicles than mass-market models. Their prices range from $50,000 to easily more than $100,000, and vehicle sales have largely slowed after automakers brought all-electric pickups to market.

There are no plug-in hybrid electric pickups currently on sale in the United States The stellar one The Ram brand is expected to launch a plug-in “range-extended” vehicle with an electric generator powering an engine later this year.

Toyota is one of several companies reevaluating its product portfolio amid slower-than-expected EV adoption and in light of the Biden administration’s new emissions rules that aim to give greater consideration to hybrid and hybrid electric vehicles plugins.

José Muñoz, Hyundai’s global president and chief operating officer, told CNBC on Wednesday that the company is reevaluating its plans to exclusively produce all-electric vehicles at a new plant under construction in Georgia.

“Everything is on the table,” Muñoz said. “We will adapt to market demand and, for now, we are on track for what regulators require.”