Americans are understandably buying into electric vehicles. With the price of gas at the pumps continuing to rise, growing concerns about climate change, and worries about environmental sustainability, electric vehicles have dominated the auto market over the past decade as a viable alternative. For drivers who are conscious of the economy and the rising cost of transportation, electric vehicles have attracted consumers across the nation, even prompting tax credits for drivers who make the leap.
According to the latest data, electric vehicle sales have nearly doubled between 2020 and 2021. At the start of 2020, there were roughly 308,000 electric vehicles sold across the nation. By the close of 2021, that number jumped nearly 100% to 600,000 vehicles sold.
Since 2020, the number of electric vehicles on American roadways has incrementally grown every quarter since. Those numbers are expected to continue climbing and automakers are paying attention. Popular cost-saving and fuel-efficient automaker Toyota has announced plans to begin producing US built electric vehicles starting in 2025.
As Electric SUV Demand Climbs, Toyota Is Ready to Answer the Call
Toyota helped set the tone for fuel-efficient vehicles when they introduced their Prius In 2000 across global markets. Since then, the evolution of fuel-efficient vehicles has paved the way for automakers like Tesla, and Rivian.
Because of their unique design, electric vehicles tend to be more compact than their gas-powered counterparts. However, as demand grows, automakers are beginning to develop electric SUVs that can cater to more than just daily commuters, but to families as well.
Koji Sato, the grandson of Toyota’s current long-time CEO Akio Toyoda is set to take the reins of the company on April 1st, 2023. When discussing the company’s transition to US built electric SUVs, Sato shares that the automaker is ready to be a leader in the EV space as Toytoa plans to improve their vehicles through “concrete actions and products, such as accelerating the shift to electrification.”
As part of this mission, Toyota has ambitious plans to start manufacturing electric SUVs in the US as early as 2025 with the goal of producing 10,000 EVs every month by 2026.
Should You Expect a Toyota Plant Near You?
There are no official announcements on plans of where, how, or when manufacturing of electric SUVs is set to begin. However, the company has already poured $3.8 billion into a North Carolina battery plant that is set to be operational by 2025. This milestone will prove to be a big one as a battery plant can then funnel the needed supplies to build fully operational EVs.
Establishing a manufacturing plant in the U.S. would be a practical move as it will better connect consumers in the states with Toyota electric SUVs including the bZ4X. Eliminating transportation costs and other fees could also result in US consumers seeing more competitive pricing for in demand electric SUVs — a market that is only set to grow over the coming years.
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