Toyota all set to work on three-row electric SUV for select markets

Toyota is the global leader among manufacturers of passenger vehicles but its foray into the world of electric vehicles (EVs) has been rather tepid. As the world transitions towards EVs, the Japanese company is well aware that its catch up game needs to have an impact player. And this impact player could be in the form of a three-row, full-size electric SUV that is being planned for the US market.

The Toyota three-row electric SUV is being initially planned for the US market although it could make its way elsewhere as well. The EV will eventually be manufactured at the company facility in Kentucky from 2025 onwards. The planning is in full swing and the company has confirmed that the battery for the model would be coming in from its new facility in North Carolina. As such, Toyota is also pouring in money to make its battery-production facilities in the US more robust than ever before. An additional investment of $2.1 billion recently announced for the under-construction plant in North Carolina now takes the total investment up to $5.9 billion.

Having a compelling product lineup and a support structure that is firmly in place would be crucial to Toyota's ambitions of having a solid say in the lucrative US EV market. The company has thus far been very cautious in its EV game and while the bZ4X EV has made a fair bit of noise, it alone is hardly going to cut it for the company.

Toyota bZ4X at the Auto Expo 2023.

The EV space has expanded the list of rivals too. Toyota does not only have to compete against traditional rivals like Ford, GM and Hyundai but its biggest foe would be Tesla, the global leader when it comes to battery-powered cars. And then there are a slew of Chinese players who, having established firm roots in home, are now looking at expanding to markets abroad. This includes Europe as well as Japan.

(With inputs from Bloomberg)