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Toyota keeps expanding battery EVs as rivals cut programs
Toyota says it will extend its BEV rollout through the rest of 2026 while it trims spending in other model lines, and it reported electrified vehicles rose to 57.4% of its U.S. volume in June.
Automotive News and Cox Automotive data show the US EV slowdown arriving after the $7,500 per-car subsidy for all-electric vehicles expired on Sept. 30, 2025. Automakers sold 462,892 all-electric vehicles in the first half of 2026, down 23.8% from the same period in 2025, as carmakers scrapped and postponed electric plans.
Carmakers have booked nearly $70 billion in write-downs tied to those EV cutbacks, according to Automotive News. Honda canceled three North American electric projects and now expects its first annual net loss since 1957.
In contrast, Toyota is signaling it will not pull back from battery-electric products. The company confirmed it will keep rolling out new BEV models through the rest of 2026 while it slows spending on product interventions in some other model lines to save money, and it is also pushing an electric redesign of the 2027 Highlander with a launch window from later this year into the first quarter of 2027.
Toyota also reported electrified vehicles accounted for 57.4% of its U.S. volume in June, driven by sales of 122,063 units, up 35% year over year, as it leans harder into hybrids while continuing its BEV push.