Toyota will launch a 'next-generation' EV under the Lexus brand

Toyota has revealed its plans for the future under a new CEO, and it looks like the company is finally prioritizing electrification. In his announcement, new President and CEO Koji Sato said the automaker is going to create new electric vehicles unique to Toyota and Lexus, its luxury division. He also said that the company is developing its "next-generation" battery electric vehicles, which will launch under the Lexus brand in 2026. It's not quite clear what "next-generation" means, but Sato said Toyota is working on "everything from the battery and platform to how a car is built optimized for BEVs" while also expanding its current EV lineup.