Toyota announced it will stop development of next-generation electric vehicles. The company will instead allocate resources to SUVs amid strong demand.
The company revealed the plan on May 30, 2026.
Toyota said it will direct management resources toward SUV development.
The move changes the automaker's approach in the electric vehicle sector.
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Honda Motor Co. announced on March 12, 2026, the cancellation of three electric vehicles—the Honda 0 SUV, Honda 0 sedan, and Acura RSX—planned for production at its Ohio EV Hub, due to US policy shifts, tariffs, weak demand, and Chinese competition. The company revised its fiscal 2025 outlook to a net loss of 420-690 billion yen from a prior profit estimate, warning of a ¥2.5 trillion impairment charge.
Nissan Motor Co has dropped plans to manufacture powertrains for electric vehicles at a new factory in Britain.
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Tesla is developing a new compact electric SUV priced below the $36,990 Model 3 and measuring 168 inches (4.3 meters) long—shorter than the Model 3 (185.8 inches) and Model Y (188.7 inches)—according to Reuters citing four anonymous supplier sources. The all-new design awaits CEO Elon Musk's production approval and may launch first in China before expanding to U.S. and German factories, signaling a pivot back to core vehicles after a focus on robotaxis and humanoid robots.