Toyota Tacoma Trailhunter 2024
Toyota
NEW YORK – Toyota Motor is evaluating an expansion of its U.S. truck lineup that could include all-electric or plug-in hybrid electric versions of the 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 tighter federal emissions and fuel economy regulations.
“I think there’s room to grow our entire truck footprint. Whether it’s a Tundra, a Tacoma or something other than the lineup,” Hollis told CNBC on Tuesday during the New York Auto Forum conference. “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 like the segment-leading Tacoma. Recent discussions have introduced the possibility of plug-in hybrid vehicles, or PHEVs.
Toyota earlier this year said it would invest $1.3 billion in a plant in Kentucky to produce a new three-row electric SUV for the US market. Thailand’s chairman of the automaker this week confirmed that Toyota will produce a BEV of the Hilux small pickup for global markets, according to Reuters.
A Pearl White Toyota Hilux 2.8 D-4D.
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Hollis said the electric Hilux is “pretty cool”. He declined to speculate on whether Toyota might bring that vehicle to the US
He confirmed, however, that the company is “looking at both” BEV and PHEV versions of the Tacoma and full-size Tundra. The Tundra was last redesigned for the 2022 model year, followed by the Tacoma last year.
“We’re evaluating both. There are reasons why a BEV might work and there’s a reason why a PHEV might work,” he said, posing the question, “What’s the best combination of those based on each of those the two trucks or even for a 4Runner or Sequoia [SUVs]?”
There are currently five all-electric pickup trucks for sale in the U.S., but they remain priced more as luxury vehicles than mass-market models. They range in price from $50,000 to easily over $100,000, and sales of the vehicles have largely slowed as automakers rushed to release fully electric pickups.
There are no plug-in hybrid electric pickups currently for sale in the US Stellandis The Ram brand is expected to release an “extended range” plug-in vehicle with an electric generator that powers an engine later this year.
Toyota is one of several automakers reassessing its product portfolio amid slower-than-exempt adoption of electric vehicles and in light of the Biden administration’s revised emissions rules that aim to better account for hybrids and plug-in hybrid electrics. vehicles.
José Muñoz, chairman and global CEO of Hyundai, told CNBC on Wednesday that the company is reconsidering its plans to 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 the regulators are asking for.”