Toyota Motor is currently in the process of evaluating an expansion of its U.S. truck lineup, with potential plans to introduce all-electric or plug-in hybrid electric versions of its popular Tacoma and Tundra pickups. This move comes as the Japanese automaker takes into consideration expected customer demand and the tightening federal emissions and fuel economy regulations. Jack Hollis, executive vice president of Toyota Motor North America, emphasized the importance of understanding what customers are looking for in order to make informed decisions about future product offerings.
The discussions around expanding Toyota’s truck lineup have included the possibility of introducing battery-electric vehicles (BEVs) such as a midsize pickup model akin to the Tacoma. In addition to BEVs, there has been talk of potentially introducing plug-in hybrid electric vehicles (PHEVs) to the lineup. Earlier this year, Toyota announced a significant investment in its Kentucky plant to produce a new all-electric, three-row SUV for the U.S. market. This move aligns with the automaker’s broader strategy to introduce more electric vehicles into its portfolio.
One of the notable developments in Toyota’s electric vehicle lineup is the production of a BEV version of its small Hilux pickup for global markets. Jack Hollis expressed excitement about the electric Hilux, calling it “very cool.” While there has been speculation about bringing this vehicle to the U.S., Toyota has yet to confirm any definitive plans. However, the company is actively exploring the possibility of introducing both BEV and PHEV versions of the Tacoma and Tundra pickups in the near future.
Despite the growing interest in electric vehicles, the electric pickup truck market in the U.S. faces certain challenges. Currently, there are only a handful of all-electric pickup trucks available for purchase, with prices ranging from $50,000 to over $100,000. These vehicles are often positioned as luxury models rather than mass-market options, which limits their overall appeal to a broader audience. Additionally, the sales of these electric pickups have slowed down after the initial rush to market.
Toyota’s exploration of electric and plug-in hybrid options for its truck lineup reflects a larger trend in the automotive industry. With the Biden administration’s revised emissions rules placing greater emphasis on hybrid and plug-in hybrid electric vehicles, automakers are reassessing their product portfolios to align with evolving regulations and consumer preferences. The shift towards electrification is prompting companies like Toyota to rethink their approach to traditional gasoline-powered vehicles.
Toyota’s evaluation of expanding its U.S. truck lineup to include electric and plug-in hybrid options signals a significant shift in the company’s strategy. By considering customer demand, regulatory requirements, and technological advancements, Toyota aims to position itself as a leader in the electric vehicle market. While there are challenges ahead, such as pricing and market competition, the automaker’s willingness to explore new technologies and drive innovation bodes well for the future of its truck lineup. As the automotive industry continues to evolve, Toyota is poised to adapt and thrive in the era of electric mobility.