Toyota weighing electric, plug-in Tacoma and Tundra pickup trucks

NEW YORK – Toyota engine is considering expanding its U.S. truck lineup, which could include fully electric or hybrid electric versions of its Tacoma and Tundra pickup trucks.

Jack Hollis, executive vp of Toyota Motor North America, said the Japanese automaker is evaluating its options to find out what makes probably the most sense given expected customer demand and tightening federal regulations on emissions and fuel economy.

“I really think there is room to increase the square footage of our entire truck. Whether it be a Tundra, a Tacoma, or something else out of the lineup,” Hollis told CNBC on Tuesday on the New York Auto Forum conference. “Whether it’s a compact or something else, I think it’s important that we continue to look at what customers are looking for.”

Toyota has previously discussed a wide selection of battery-electric vehicles, or BEVs, including a mid-size pickup model just like the segment-leading Tacoma. The latest talks have shown the potential of plug-in hybrid vehicles, or PHEVs.

Earlier this 12 months, Toyota said it might invest $1.3 billion in a Kentucky plant to provide a brand new all-electric, three-row SUV for the U.S. market. The Thai automaker’s CEO confirmed this week that Toyota will produce a BEV of its Hilux small pickup truck for global markets, in keeping with data. Reuters.

Hollis said the electrical Hilux is “very cool.” He declined to take a position on whether Toyota could bring the vehicle to the US

However, he confirmed that the corporate is “looking at” the Tacoma and full-size Tundra in each BEV and PHEV versions. The Tundra was most recently redesigned for the 2022 model 12 months, followed by the Tacoma last 12 months.

“We are in the process of evaluating both. There are reasons why a BEV might work and there’s a reason a PHEV might work,” he said, asking the question: “What’s the best combination of those based on each of these two trucks or even for a 4Runner or Sequoia [SUVs]?”

There are currently five fully electric pickup trucks available within the U.S., but they’re priced more luxuriously than mass-market models. They range in price from $50,000 to greater than $100,000, and vehicle sales have dropped significantly after automakers rushed to bring all-electric pickup trucks to market.

There are currently no plug-in hybrid electric pickups available within the US Star The Ram brand is predicted to release an “extended range” plug-in vehicle with an electrical generator powering the engine later this 12 months.

Toyota is certainly one of several automakers which are re-evaluating their product portfolio amid slower-than-expected adoption of electrical vehicles and in light of the Biden administration’s revised emissions regulations that aim to higher address hybrid and plug-in hybrid vehicles.

José Muñoz, Hyundai’s president and global chief operating officer, told CNBC on Wednesday that the corporate is re-evaluating its plans to provide only all-electric vehicles at a brand new plant being inbuilt Georgia.

“Everything is on the table,” Muñoz said. “We will adapt to market demand and for now we are on track to meet regulatory requests.”