Toyota delays US electric car plans as sales slow

Quick Summary:

The Japanese car maker has become the latest industry giant to scale back its EV plans.

The company blamed changing market conditions for its decision to give up a target it had announced only three years ago.

To support these goals Toyota is ramping up its lithium-ion battery production with a factory in North Carolina, which it expects will come online next year.

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Article Details

Category: Business

Markets: United KingdomColombiaIndiaJapan

Topics: Company Plans Electric Target Global 2026 Firm Toyota Vehicles Announced

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-03 @ 04:20:54 (12 hours ago)

News Timezone: GMT +0:00

News Source URL: bbc.com

Language: English

Article Length: 439 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 25 words per sentence (average)

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Copyright Owner: © BBC Business

News ID: 22857214

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