Americans' affinity for large SUVs seems unbreakable. Nearly half of the 25 best-selling passenger cars in the U.S. last year were SUVs. However, as the auto industry pivots towards electric vehicles, Toyota, the second-bestselling automaker in the U.S. behind General Motors in 2023, still doesn't offer an electric family SUV with space for seven passengers. Rivian, Kia, Mercedes and Tesla have already beaten Toyota in this race. But things are expected to turn around next year.
We also know that Toyota has been working on a bunch of different battery programs. But there’s little information out there on how far these programs have come. Toyota said last year that three of those programs involve new liquid electrolyte technologies and one with solid-state batteries. The automaker has said it was working on improving charging speeds, achieving higher energy density compared to today’s batteries and reducing production costs.
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