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Toyota to delay US EV production to 2026 amid slowing sales, Nikkei reports
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Toyota to delay US EV production to 2026 amid slowing sales, Nikkei reports
Oct 2, 2024 9:33 PM

Oct 3 (Reuters) - Toyota Motor ( TM ) will postpone

the start of electric-vehicle production in North America to the

first half of 2026 due to design adjustment and slowing EV

sales, the Nikkei business daily reported on Thursday.

The Japanese automaker recently told suppliers the start

date for production of its first battery EV model at its factory

in the U.S. state of Kentucky - a three-row SUV - will be

delayed by several months, the Nikkei said.

Production is now likely to begin in early 2026 rather than

late next year, Toyota ( TM ) spokesperson Scott Vazin said.

"We've always said it would be late 2025 and it could

creep into 2026 and it does look like it's going to creep into

2026," Vazin said.

He said Toyota ( TM ) planned to introduce five to seven battery

electric vehicle models in the U.S. over the next two years.

Supply disruption and governance issues had prompted Toyota ( TM )

to delay the start of U.S. EV production by six months to around

June 2026, sources previously told Reuters.

The automaker aimed to manufacture electric SUVs under its

luxury Lexus brand in North America by 2030 but has scrapped

that plan in favour of shipping completed vehicles to the U.S.

from Japan, the Nikkei also reported on Thursday.

Toyota ( TM ) in February invested $1.3 billion in its Kentucky

facility for its electrification effort.

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