Toyota has expressed a keen interest in the compact pickup truck segment since 2023. With only the Ford Maverick and Hyundai Santa Cruz currently occupying this space, Toyota sees great potential in this market.
The clearest indication of Toyota’s intentions was the unveiling of the EPU concept at the 2023 Tokyo Motor Show in October last year. Despite the positive feedback, Toyota acknowledged that they are not rushing to bring the concept to reality due to several challenges.
The Toyota EPU Concept, a compact electric pickup truck, was well-received for its design. Image: Carscoops
In an interview with the American media, an anonymous Toyota executive confirmed that the EPU concept had been in development for three years, indicating the company’s strong interest in the compact pickup segment. However, their vision for the EPU seems misaligned with market trends.
According to Ted Ogawa, CEO of Toyota North America, if they were to enter this market, their focus would be on electrifying the compact pickup. However, consumer demand for electric pickups is not yet high, as traditional fuel-powered options like the Ford Maverick and Hyundai Santa Cruz remain more popular.
Toyota might need to reconsider their approach and focus on traditional fuel-powered pickups if they are hesitant about the success of electric vehicles in this segment. Image: Carscoops
It’s understandable that Toyota would want to electrify their compact pickup offering to increase their model range and competitiveness against existing rivals. However, electrifying a compact pickup is not without its challenges. Toyota needs to ensure that the electrified version is as practical as its gas-powered counterpart, which is not an easy feat when considering the additional weight and structure required for electrification. Moreover, the technology could drive up the price, making it less competitive against its rivals. These are the main hurdles Toyota aims to overcome before finalizing the EPU.
