**Asahi “Considering Delay in Next-Generation Electric Vehicle Release Due to Rising Construction Costs”**
(Tokyo = Yonhap News) Correspondent Park Sang-hyeon reports that Asahi Shimbun announced on the 24th that Toyota Motor Corporation, the world’s leading automaker, has decided to temporarily delay the construction of an electric vehicle lithium-ion battery plant in Fukuoka Prefecture, Kyushu.
According to the report, Toyota’s president, Sato Koji, is considering visiting Fukuoka Prefecture soon to inform about the construction delay.
Last month, Toyota acquired a factory site within an industrial complex in Kanda Town, Northern Fukuoka Prefecture for the battery plant construction. The site area is approximately 280,000 square meters.
Backed by Japanese government subsidies, Toyota planned to start building the battery plant this year, aiming to produce products from 2028 to equip its luxury brand Lexus’s next-generation electric vehicles.
Asahi explained, “The new plant was expected to become a battery supply hub due to its proximity to the Toyota Kyushu plant, where Lexus vehicles are manufactured. However, as global electric vehicle demand has not increased as much as anticipated, Toyota has reconsidered its strategy.”
Additionally, Asahi pointed out that Toyota’s consideration of delaying the launch of next-generation electric vehicles is also a factor in the construction delay, citing the need for new technologies to ensure quality, which takes time.
The newspaper added, “The overall delay in the electric vehicle deployment plan, along with rising material and labor costs, has further contributed to the reconsideration of construction.”
Toyota is reportedly coordinating plans to push the production schedule for next-generation electric vehicles, initially slated for release in 2026, to the mid-2027.
While Toyota is often criticized for lagging slightly in electric vehicle development, the company has set a goal to increase electric vehicle sales to 3.5 million units by 2030.