Menu ›
Business
The Japanese car maker has become the latest industry giant to scale back its EV ambitions
Fri, 4 Oct 2024
Source: BBC
Toyota has delayed the start of its US electric vehicle (EV) production to an unspecified time in 2026, citing softening global demand for battery-powered cars. The company initially planned to begin manufacturing by late 2025 or early 2026.
Despite the delay, Toyota remains committed to its global target of producing 1.5 million EVs by 2026 and plans to introduce 5 to 7 new EV models in the US.
Other automakers, including Volvo and Ford, have also scaled back EV ambitions due to changing market conditions and weakening demand for electric vehicles.
Read full article
Source: BBC