Toyota weighing electrical, plug-in Tacoma and Tundra pickups

NEW YORK — Toyota Motor is evaluating an growth 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 probably the most sense primarily based on anticipated buyer demand and tightening federal emissions and gasoline economic system rules.

“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 informed CNBC on Tuesday throughout the New York Auto Discussion board convention. “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 beforehand mentioned a broad lineup of battery-electric vehicles, or BEVs, together with a midsize pickup mannequin just like the segment-leading Tacoma. The most recent conversations have launched the potential for plug-in hybrid autos, or PHEVs.

Toyota earlier this 12 months mentioned it would invest $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 world markets, in accordance with 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 “looking into both” BEV and PHEV variations of the Tacoma and full-size Tundra. The Tundra was final redesigned for the 2022 mannequin 12 months, adopted by Tacoma final 12 months.

“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 mentioned, in posing the query, “What’s the best mix of those based upon each of those two trucks or even for 4Runner or Sequoia [SUVs]?”

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

There are usually 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 12 months.

Toyota is one in every 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 into consideration hybrid and plug-in hybrid electrical autos.

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

“Everything is on the table,” Muñoz mentioned. “We will adjust to the market demand and, for the time being, we are on track for what the regulators are requesting.”