Grapevine

By News 24
Aug 19, 2024

Toyota bets big on hybrid-only models as EV demand slows

Almost three decades after launching the Prius, its pioneering petrol-electric hybrid, Toyota is moving to convert most, and eventually maybe all, of its Toyota and Lexus line-up to hybrid-only models, two Toyota executives told Reuters.

Toyota's stubborn focus on hybrids over EVs is part of a broader challenge by the world's biggest automaker to the prevailing industry and regulatory orthodoxy that all cars will be electric in the near future.

"Going forward, we plan to evaluate, carline by carline, whether going all-hybrid makes sense," David Christ, head of sales and marketing for Toyota in North America, told Reuters.

Those evaluations will come with every model redesign, if not sooner.