Toyota targets midsize SUV buyers with EV push. Will it pay off?

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Toyota is set to release a new electric midsize SUV by late 2026, the Highlander EV, despite previous lukewarm success with its bZ4X model and a generally slowing EV market in the U.S. This move represents a significant risk for the company, though it is financially bolstered by strong sales of its hybrid vehicles. The Highlander EV is projected to offer competitive specs with 338 horsepower and 320 miles of range, aiming to compete with other family-oriented electric SUVs.

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