Toyota vows to make owning an EV even more affordable, but with only one model available in the US, it’s not giving buyers many options. After another delay to its upcoming electric SUV, here’s when you can expect to see more Toyota EV models roll out.
Toyota aims to make EV ownership more affordable
On Thursday, Toyota Motor North America revealed new details on its plans to “develop a seamless home charging experience as the company prepares to ramp up for its next-generation electrified vehicles.”
Toyota’s growth fund, Woven Capital, led a $28 million funding raise for WeaveGrid, a software company that specializes in enabling rapid EV adoption on the electric grid.
According to Christopher Yang, Toyota’s vice president of EV Charging Solutions, the investment “has the potential to provide customers and power utilities with mutual benefits that align with our mission to contribute to the goal of a carbon-neutral society.”
Together with WeaveGrid, Toyota is partnering with utility companies to make EV ownership more affordable with programs designed to lower energy costs.
“As Toyota aims to expand the number of BEV and PHEV vehicles we offer, our goal remains to ensure the ownership experience is as seamless and customer-friendly” as it has in the US over the past 67 years, Yang said.
When are the new EVs arriving?
The Japanese automaker is known for its hybrid models, like the Prius. However, with only one EV available in the US, the bZ4X SUV, when will Toyota’s next electric model arrive?
In October, a Nikkei report claimed Toyota was delaying production of its three-row electric SUV. Although Toyota said it would begin building the new EV at its Georgetown, Kentucky plant in 2025, production is now scheduled to start in the first half of 2026.
The company also no longer plans to build new Lexus electric SUVs in North America. New Lexus EV models will be shipped from Japan.
According to the report, Toyota is delaying new EV launches to give it more time to introduce new production methods, like giga-casting, to cut costs and speed up output.
Toyota informed suppliers earlier this year it expects to build around 1 million EVs by 2026. That’s down from its previous 1.5 million production goal.
Toyota is not the only one delaying new EV models in the US. Ford, GM, Volkswagen, and others are also holding back major EV initiatives, which opens the door for EV makers like Rivian, Lucid, and, of course, Tesla to gain market share.
Through the first nine months of 2024, Toyota has sold just over 13,500 bZ4X models in the US, more than double the roughly 6,500 sold through September 2023.
2025 Toyota bZ4X trim |
Starting Price (excluding $1,395 DPH fee) |
Price reduction (vs 2024MY) |
Range (mi) |
| XLE FWD | $37,070 | -$6,000 | 252 |
| XLE AWD | $39,150 | -$6,000 | 228 |
| Limited FWD | $41,800 | -$5,380 | 236 |
| Limited AWD | $43,880 | -$5,380 | 222 |
| Nightshade | $40,420 | N/A | 222 |
Earlier this week, Toyota revealed the 2025 bZ4X will get a $6,000 price cut from the 2024MY. The 2025 Toyota bZ4X starts at just $39,150. With incentives, Toyota’s electric SUV could be even cheaper than a Corolla or RAV4 Hybrid.
With the new models arriving, Toyota is offering up to $10,000 off the 2024 bZ4X. Are you ready to take advantage of the savings? We’ve got you covered. You can use our link to find the best deals on 2024 and 2025 Toyota bZ4X models at a dealer near you today.