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Market Chatter: Toyota Motor to Discontinue Development of Next Generation Lexus EV Model

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Toyota Motor (TM) will discontinue development of a next-generation Lexus electric vehicle and instead focus on SUVs and other vehicles, Nikkei Asia reported Thursday.

Development is expected to be halted on a mass-production version of the Lexus LF-ZC sedan, the report said, adding that production was originally scheduled to begin late this year before being postponed to mid-2027.

The company is expected to continue research and development into gigacasting technology and solid-state batteries, while also exploring future applications of next-generation EV technology, according to the news outlet.

Toyota did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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