- Toyota Motor Corp (NYSE:TM) looks to launch a sport utility vehicle version of its Crown sedan for Japan, China, and North America, Reuters reports.
- The SUV, likely to come in a hybrid, plug-in hybrid, and full-electric models, looks to bring the 67-year-old Crown more with market trends.
- The hybrid will likely be available for sale from the summer of 2023 and include exports to China and North America.
- Also Read: Toyota's Discloses EV Plans: All You Need To Know
- The plug-in hybrid will cater to the domestic market. The electric model is due to launch in early 2024.
- Toyota will manufacture both the SUV and the sedan at factories in Toyota City, Japan.
- Toyota revamped a car that has been a showpiece of Japan's market for nearly seven decades in the attempt.
- Toyota will also roll out a fully remodeled sedan version of the Crown this summer.
- On the EV front, Toyota plans to invest $70 billion to electrify its automobiles by 2030.
- Price Action: TM shares closed higher by 1.64% at $168.44 on Wednesday.
