In a surprising U-turn, Toyota has reportedly cancelled its planned electric vehicle (EV) for its luxury brand Lexus, only to revive its flagship EV plans in an effort to catch up with rival automakers. The decision marks a significant shift in the Japanese automaker's electric vehicle strategy, which had initially seemed to be lagging behind competitors like Tesla and General Motors. Industry insiders suggest that Toyota's revised plans aim to address the growing demand for EVs, particularly in key markets such as China and Europe. As the global automotive landscape continues to evolve, Toyota's bold move is expected to have far-reaching implications for the luxury electric vehicle market.
Toyota scraps planned Lexus EV, then revives flagship push to catch rivals Yahoo Autos
