Toyota Motor Corp planned to release a sport utility vehicle version of its Crown sedan in Japan, China, and North America, reviving a car that has been a showpiece of Japan's market for nearly seven decades, according ot reports quoting sources.
The SUV, which will be available in hybrid, plug-in hybrid, and full-electric versions, is an attempt to bring the 67-year-old Crown more in line with market trends, according to the people, who declined to be identified because the information has not been made public.
The hybrid is slated to be on sale in the summer of 2023, with exports to China and North America, while the plug-in hybrid is aimed at the domestic market, according to the company.
According to two of the persons, the electric vehicle will be released in early 2024, and the carmaker has yet to finalise export plans.
According to the sources, Toyota will begin selling a completely redesigned sedan version of the Crown this summer as part of the revamp.
The SUV and sedan will both be built at Toyota City, Japan.
No comment on the issue was available from a Toyota spokesman.
The Crown was the first passenger automobile developed and constructed wholly in Japan, marking a critical step in the country's emergence to become a global automaking giant. It was mostly sold in Japan for much of its history.
In 1958, it was also the first Toyota car to be exported to the United States. Toyota was forced to halt exports two years later because the Crown engine couldn't handle the speeds required on American highways.
In 1990, during the height of Japan's economic boom, Toyota sold over 200,000 cars, but by last year, domestic yearly sales had dropped to only 21,000 units.
Toyota, like other Japanese manufacturers, is attempting to dispel the idea that it has been hesitant to adopt battery electric vehicles with the Crown redesign.
Last year, the automaker announced that it would invest roughly $70 billion to electrify its vehicles by 2030.
(Source:www.theedgemarkets.com)
The SUV, which will be available in hybrid, plug-in hybrid, and full-electric versions, is an attempt to bring the 67-year-old Crown more in line with market trends, according to the people, who declined to be identified because the information has not been made public.
The hybrid is slated to be on sale in the summer of 2023, with exports to China and North America, while the plug-in hybrid is aimed at the domestic market, according to the company.
According to two of the persons, the electric vehicle will be released in early 2024, and the carmaker has yet to finalise export plans.
According to the sources, Toyota will begin selling a completely redesigned sedan version of the Crown this summer as part of the revamp.
The SUV and sedan will both be built at Toyota City, Japan.
No comment on the issue was available from a Toyota spokesman.
The Crown was the first passenger automobile developed and constructed wholly in Japan, marking a critical step in the country's emergence to become a global automaking giant. It was mostly sold in Japan for much of its history.
In 1958, it was also the first Toyota car to be exported to the United States. Toyota was forced to halt exports two years later because the Crown engine couldn't handle the speeds required on American highways.
In 1990, during the height of Japan's economic boom, Toyota sold over 200,000 cars, but by last year, domestic yearly sales had dropped to only 21,000 units.
Toyota, like other Japanese manufacturers, is attempting to dispel the idea that it has been hesitant to adopt battery electric vehicles with the Crown redesign.
Last year, the automaker announced that it would invest roughly $70 billion to electrify its vehicles by 2030.
(Source:www.theedgemarkets.com)
