#toyotaevs

Toyota, a noted EV skeptic, finally delivered the bZ4X crossover in 2023. Despite it only having been on sale for one year, the automaker is already offering discounts on the new 2024 model, cutting $10,000 off the top for lease clients in New York.

Toyota may be pushing hard toward more diverse propulsion options instead of solely focusing on EVs, but that doesn’t mean it’s not looking for ways to make headway on electrification. The Japanese auto giant recently announced its acquisition of Primearth EV Energy from Panasonic, which it said would give it a significant boost toward EV battery mass production.

Toyota’s got a lot going on, from the shockingly good-looking new Prius in 2023 to a fresh Tacoma pickup and Land Cruiser SUV next year. On top of that, Automotive News recently reported that the automaker has several other new models on the way, starting with a Crown Crossover and an electric three-row family hauler.

Despite its size and considerable resources, Toyota has been slow to develop and release new EV models. That will likely change under its new CEO, but the automaker has a long way to go, as its recent tear-down of a Tesla Model Y highlighted its deficiencies in EV engineering.

Toyota was slow to get going with electric vehicle development, but it’s got a new CEO and a fresh outlook on what it will take to remain the world’s largest automaker. To improve its chances and gain eligibility for federal tax credits, Toyota needs to build EVs in the United States. That could be changing as early as 2025, according to a new report from Nikkei.