Toyota Will Delay Production of Electric Vehicles in North America, Nikkei Reports

By Connor Hart

-- Toyota Motor will push back the production of electric vehicles in North America to the first half of 2026 as the EV market continues to face sluggish sales, the Nikkei business daily reports.

-- The company previously planned to begin assembling a three-row, electric sport utility vehicle in 2025 at its plant in Kentucky where it had invested $1.3 billion in the facility, but it recently told suppliers that the start date will be delayed by several months, according to the Nikkei report.

-- Toyota said the delay was due in part to adjustments in the vehicle's design, though Nikkei notes that the change comes as EV sales slow.

-- Nikkei reported in September that Toyota plans to cut its global EV output forecast for 2026 to 1 million cars, about 30% below its previous forecast.

Full article at https://asia.nikkei.com/Business/Automobiles/Electric-vehicles/Toyota-to-delay-U.S.-EV-production-to-2026-on-slowing-sales

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

October 02, 2024 18:19 ET (22:19 GMT)

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