financetom
Business
financetom
/
Business
/
Toyota to delay US EV production to 2026 amid slowing sales, Nikkei reports
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Toyota to delay US EV production to 2026 amid slowing sales, Nikkei reports
Oct 2, 2024 9:46 PM

(Reuters) -Toyota Motor ( TM ) would postpone the production of electric vehicles at its Kentucky plant in the United States to the first half of 2026, citing design adjustments and slowing sales, the Nikkei business daily reported on Thursday.

"Toyota ( TM ) recently told suppliers that the start date will now be delayed by several months," Nikkei Asia reported.

Sources had earlier told Reuters that supply disruptionsand governance issues had prompted the Japanese manufacturing giant to delay the start of the production of EVs in the U.S. by six months to around June 2026.

The automaker would also scrap its plans to manufacture new electric SUVs under the Lexus brand in North America by 2030, opting instead to export completed vehicles to the U.S. market from Japan, the daily added.

Toyota ( TM ) in February invested $1.3 billion at its Kentucky facility for electrification efforts, including assembly of a new, three-row battery electric SUV for the U.S. market.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Meta's Instagram down for thousands, Downdetector shows
Meta's Instagram down for thousands, Downdetector shows
Mar 21, 2024
March 21 (Reuters) - Meta Platforms's ( META ) Instagram was down for thousands of users on Thursday, according to outage tracking website Downdetector.com. ...
Oil eases on possible Gaza ceasefire, dollar strength
Oil eases on possible Gaza ceasefire, dollar strength
Mar 21, 2024
SINGAPORE (Reuters) -Oil prices slipped on Friday on the possibility of a nearing Gaza ceasefire that could ease geopolitical concerns in the Middle East, while a stronger dollar and faltering U.S. gasoline demand also weighed on prices. Brent crude futures fell 42 cents, or 0.5%, to $85.36 a barrel by 0203 GMT. U.S. crude futures shed 40 cents, or 0.5%,...
Hong Kong-listed Samsonite plans dual listing in hunt for investors
Hong Kong-listed Samsonite plans dual listing in hunt for investors
Mar 21, 2024
(Reuters) -Luggage maker Samsonite International ( SMSOF ) on Friday said it plans to pursue a dual listing in addition to its listing on the Hong Kong Stock Exchange to increase the liquidity of its shares and reach investors in more markets. Samsonite ( SMSOF ) did not provide details of the exchanges it is considering for the second listing,...
Ecopetrol's Reficar refinery awarded nearly 20% of McDermott common capital, company says
Ecopetrol's Reficar refinery awarded nearly 20% of McDermott common capital, company says
Mar 21, 2024
BOGOTA, March 21 (Reuters) - The Reficar oil refinery belonging to Colombia's Ecopetrol was awarded 19.9% of the common capital in infrastructure firm McDermott in preferential shares by a judge in Amsterdam, Ecopetrol said in a statement on Thursday. The refinery is located in the Colombian city of Cartagena. ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved