Have you driven a Prius lately?
In the past that question was not usually met with a positive response. But the all-new, fifth-generation 2023 Toyota Prius Hybrid may change, at least in terms of looks.
The boxy, wedge-shaped body went with the snout nose and staid hatchback design; Now it’s sporty, with a long front end, a sedan-like low profile roof design and something like a Tesla Model Y hatch.
Toyota ( TM ) says the Prius will have three powertrains, two “mild” hybrids powered by a 1.8-liter and 2.0-liter engine with an electric motor, and a plug-in hybrid version that uses that 2.0-liter engine with a stronger motor and larger battery. using Toyota expects the new Prius to go on sale later this year.
For Toyota, the all-new Prius is a bet that hybrids stick around for a long time, even as the world goes all-electric. In fact consumers are still interested, as Consumer Reports sees increasing buying sentiment as at least mild hybrids tend to be more reliable.
Toyota also has reason to stick with its tried-and-true hybrid recipe, which over 20 years after the Prius saw its hybrid technology trickle down to other offerings like the RAV-4 CUV, the top-selling Camry sedan, and even the Bone. Brand Lexus vehicles.
Toyota was late to the game trying to transition into an EV automaker, because the company didn’t see the EV wave happening as soon as it did, and the automaker has had more success with its gas-powered cars, which are commonly called Ultras.
Toyota said late last year that it would invest about $38 billion to roll out 30 EVs by 2030 and make its Lexus brand all-electric by 2035, though its competitors such as GM, Ford and Volkswagen are lagging behind what we’re doing. matches
But just last month, Toyota was reevaluating that strategy. According to Reuters, the platform was not cost-effective compared to competitors like Tesla based on its upcoming EV offerings, and a group within Toyota was tasked with determining whether the platform was salvageable or whether an entirely new EV platform was needed. Numerous EV projects were put on hold as the process continued, sources told Reuters.
In terms of both time and money — the EV gameplan — Toyota has determined what can be expensive, banking on hybrids like its Prius and best-selling SUVs and pickups to keep up sales momentum, despite the changing times.
Pras Subramanian is a reporter for Yahoo Finance. You can follow him Twitter And then Instagram.
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