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Toyota pulls plug on electric vehicle launch

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Toyota corporation has now announced that electric vehicles (EVs) don’t make business or financial sense at this point.

Toyota Vice Chairman Takeshi Uchiyamada, also head of Toyota R&D, announced in Japan that the company was ending plans for a volume launch of its second all-electric car, the eQ. Uchiyamada said that Toyota hopes for only 2,600 sales worldwide of its other EV, a RAV4 version, over the next three years.

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