Toyota Pulls Out Of Second All-Electric

Toyota Motor Corporation (NYSE:TM) has decided to cancel the launch of its second all-electric car.

Toyota Pulls Out Of Second All-Electric

The Japanese automaker Toyota Motor Corporation (NYSE:TM) said in a statement that it has decided not to launch eQ, its second all-electric car, as it does not make financial sense.

The company said that it expects to sell only 2,600 RAV4 EVs in the next three years.

Toyota Motor Corporation (NYSE:TM) vice chairman Takeshi Uchiyamada said, “The current capabilities of electric vehicles do not meet society’s needs, whether it may be the distance the cars can run, or the costs or how it takes a long time to charge”.

Toyota Motor Company (NYSE:TM) stocks are currently standing at 76.85.

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