Toyota could introduce electric, plug-in Tacoma and Tundra pickups

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
its
Tacoma
and
Tundra
pickups.

Jack
Hollis,
executive
vice
president
of
Toyota
Motor
North
America,
said
the
Japanese
automaker
is
assessing
its
options
to
determine
what
makes
the
most
sense
based
on
expected
customer
demand
and

tightening
federal
emissions
and
fuel
economy
regulations.

“I
do
think
there’s
room
to
grow
our
entire
truck
footprint.
Whether
it
be
Tundra,

Tacoma
or
something
else
in
addition
to
the
lineup,”
Hollis
told
CNBC
on
Tuesday
during
the
New
York
Auto
Forum
conference. “Whether
that’s
a
compact
or
something
else,
I
think
it’s
important
for
us
to
continue
to
see
what
the
customers
are
looking
for.”

Toyota
has
previously
discussed
a

broad
lineup
of
battery-electric
vehicles,
or
BEVs,
including
a
midsize
pickup
model
like
the
segment-leading
Tacoma.
The
latest
conversations
have
introduced
the
potential
for
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.
The
automaker’s
Thailand
president
this
week
confirmed
Toyota
will
produce
a
BEV
of
its
small
Hilux
pickup
for
global
markets,
according
to

Reuters.

Hollis
said
the
electric
Hilux
is “very
cool.”
He
declined
to
speculate
whether
Toyota
could
bring
that
vehicle
to
the
U.S.

He
confirmed,
however,
that
the
company
is “looking
into
both”
BEV
and
PHEV
versions
of
the
Tacoma
and

full-size
Tundra.
The
Tundra
was
last
redesigned
for
the
2022
model
year,
followed
by
Tacoma
last
year.

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

There
are
currently
five
all-electric
pickup
trucks
on
sale
in
the
U.S.,
but
they
remain
priced
more
so
as
luxury
vehicles
than
mass-market
models.
Their
prices
range
from
$50,000
to
easily
more
than
$100,000,
and
sales
of
the
vehicles
have
largely
slowed
after
automakers
rushed
all-electric
pickups
to
market.

There
are
not
any
plug-in
hybrid
electric
pickups
currently
on
sale
in
the
U.S.


Stellantis’
Ram
brand
is
expected
to
release
an “extended-range”
plug-in
vehicle
with
an
electric
generator
powering
an
engine
later
this
year.

Toyota
is
one
of
several
automakers
reassessing
its
product
portfolio
amid slower-than-excepted adoption
of
EVs,
and
in
light
of
the
Biden
administration’s revised
emissions rules
that
aim
to
better
take
into
account
hybrid
and
plug-in
hybrid
electric
vehicles.

José
Muñoz,
Hyundai
president
and
global
chief
operating
officer,

told
CNBC
on
Wednesday
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
adjust
to
the
market
demand
and,
for
the
time
being,
we
are
on
track
for
what
the
regulators
are
requesting.”