Toyota Motor Corp. President Akio Toyoda says there is a silent majority who question whether automakers should pursue electric vehicles exclusively.
Details of CX-90 to be fully revealed in January.
The move will affect 1,350 employees who will be indefinitely laid off at the Belvidere, Illinois, plant.
The new facility will employ 1,500 people and produce enough cathode and anodes components to supply 1 million EVs annually.
Magazine cites in part the model’s appeal to existing truck owners.
The U.S. Energy Department finalized a $2.5 billion loan to a joint venture of General Motors Co. and LG Energy Solution for three lithium-ion battery cell manufacturing facilities.
The automaker plans to adjust its electric vehicle strategy and provide it to key suppliers early next year, report people close to the project.
Toyota maintains operations in Europe will be carbon neutral by 2040, at Toyota Motor Europe’s annual Kenshiki presentation in Brussels.
Apple Inc. has postponed the launch date for its self-driving electric vehicle to 2026, reports people with knowledge of the matter.
Vietnamese EV-maker has filed for IPO to fund a manufacturing plant in North Carolina with a projected capacity of 150,000 EVs a year.
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