Toyota recently unveiled a host of EVs, one of which was an electric pickup truck that garnered much attention, as it will likely become Toyota’s most important product in the US for the next few years.
Toyota and Lexus held a press briefing on December 14th that showcased their new EV lineup. During the event, the automaker(s) announced an intention to commit substantial investments to vehicle electrification and release 15 EV models by 2025 in accordance with prior targets. One such model is the previously announced bZ4X EV, although a Tacoma-like pickup attracted much attention.
While Toyota did not go into further details, the company temporarily named the vehicle in question “Pickup EV”. Judging from the car’s exterior and size, one may as well equate it to an electric version of the Toyota Tacoma.
Although pickup trucks are rarely seen in Taiwan, they represent the most important product category in the US automotive market. It should be pointed out that Toyota is ranked fourth among truck manufacturers in the US market, with almost no hopes of reaching third place. Even so, the automaker managed to sell nearly 350,000 trucks in 2020, 230,000 of which were Tacomas.
However, the pickup market has become hypercompetitive, as reigning champion Ford prepares to deliver its F-150 BEVs, and runner-up GM releases its electric Hummer, though third-ranked RAM still lacks plans for electrification. On the other hand, emerging players are also starting to rise. For instance, the Tesla Cybertruck and Rivian R1T are locked and loaded to seize market shares from traditional automakers. It would appear that Toyota has no choice but to respond.
Yet another factor propelling the electrification of trucks has to do with the law. The US calculates greenhouse gas emissions based on a vehicle’s interior space. In other words, the larger the vehicle, the more emissions permitted. As such, electrification of pickups and SUVs allows automakers to massively lower their carbon emissions, in turn making up for their smaller ICE vehicles’ emissions.
During Auto Shanghai earlier this year, Toyota indicated that it will release both PHEV and BEV pickup trucks, with Hilux as its vanguard in the overseas markets. However, in the US market, Tacoma and Tundra remain as the two sole candidates. Judging from present circumstances, the higher-selling Tacoma is the likelier of the two to receive electrification.
Compared to Ford and GM, both of which place a higher priority on the electrification of larger vehicles, Toyota enjoys relatively lower sales of smaller PHEVs. Hence, the Japanese automaker does not need to resort to a hard sell for its Tundra, which has a relatively large body. Instead, Toyota can push out its mid-sized pickup truck Tacoma first. If rumors were proven true, then Toyota would be the only mid-sized BEV truck in the US pickup market, thereby conferring massive advantage unto Toyota’s market expansion activities.
Should Toyota truly fully electrify its entire lineup of trucks, then Toyota enthusiasts from areas with poor distribution of EV charging infrastructure, such as the Middle East and Africa, would be at a disadvantage, since both charging and repairs pose significant issues for prospective EV owners there.
(Image: Toyota)
