Toyota weighing electrical, plug-in Tacoma and Tundra pickups

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

Jack Hollis, govt vp of Toyota Motor North America, mentioned the Japanese automaker is assessing its choices to find out what makes essentially the most sense primarily based 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 or not it’s Tundra, Tacoma or one thing else along with the lineup,” Hollis informed CNBC on Tuesday throughout the New York Auto Discussion board convention. “Whether or not that is a compact or one thing else, I feel it is vital for us to proceed to see what the purchasers are on the lookout for.”

Toyota has beforehand mentioned a broad lineup of battery-electric automobiles, 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 automobiles, or PHEVs.

Toyota earlier this yr mentioned it would 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, in response to Reuters.

Hollis mentioned the electrical Hilux is “very cool.” He declined to take a position whether or not Toyota might convey that automobile to the U.S.

He confirmed, nonetheless, that the corporate is “wanting 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 explanation why a BEV can work and there is a cause why PHEV can work,” he mentioned, in posing the query, “What’s the very best mixture of these primarily based upon every of these two vans and even for 4Runner or Sequoia [SUVs]?”

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

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

Toyota is considered one of a number of automakers reassessing its product portfolio amid slower-than-excepted adoption of EVs, and in gentle of the Biden administration’s revised emissions guidelines that purpose to raised take note of hybrid and plug-in hybrid electrical automobiles.

José Muñoz, Hyundai president and international chief working officer, informed CNBC on Wednesday the corporate is reevaluating its plans to solely produce all-electric automobiles at a brand new plant below building in Georgia.

“All the pieces is on the desk,” Muñoz mentioned. “We’ll modify to the market demand and, in the interim, we’re on monitor for what the regulators are requesting.”