A recent report claims that a Toyota Sports car line is on the way.
Here’s what we know about the new sports car line from Toyota Motor Corp (ADR) (NYSE:TM).
- The company is planning to show it off during an event next month.
- This event will be held in Tokyo, Japan.
- It will reportedly be similar to the Lexus F series line of cars.
- The Toyota sports car line will be made with Japanese buyers in mind.
- It is currently unknown if the cars will be sold outside of Japan.
The news of a new Toyota sports car line comes shortly after other sports car news from the company. This include talk that it will be introducing a new version of the Supra next year. The company has also been making changes to how it handles sports cars in the GRMN line for global racing events, reports Automotive News.
While Toyota is making plans for a new sports car line, other automakers are rushing to come out on top of the electric vehicle race. Tesla Inc (NASDAQ:TSLA) has a strong place in the market with all of its vehicles only getting power from a battery.
Despite Tesla’s firm hold on the EV market, others are still attempting to take it on. This includes plans from Hyundai long-range EV that will come out in the first half of 2018. Several other car companies, including Toyota, are also looking to take on Tesla in the EV market.
As of this writing, William White did not hold a position in any of the aforementioned securities.
