Toyota Corporation to end launch of eQ

Electric Car

Toyota Corporation (NYSE: TM) (LSE: TYT) (TYO: 7203), a Japan-based automaker, is planning to end the launch of its second all-electric car, the eQ, according to Toyota vice chairman, Takeshi Uchiyamada, also head of Toyota Research and Development.

Uchiyamada stated that the automaker expects to sell 2,600 units of its other EV, a RAV4 version, over the next three years.

Uchiyamada said, ‘The current capabilities of electric vehicles do not meet society’s needs, whether it may be the distance the cars can run, or the costs or how it takes a long time to charge.’

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