Toyota To Launch SUV Of Revamped Crown Sedan: Reuters - Toyota Motor (NYSE:TM)

Toyota Motor Corp TM looks to launch a sport utility vehicle version of its Crown sedan for Japan, China, and North America, Reuters reports.
The SUV, likely to come in a hybrid, plug-in hybrid, and full-electric models, looks to bring the 67-year-old Crown more with market trends.
The hybrid will likely be available for sale from the summer of 2023 and include exports to China and North America.
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The plug-in hybrid will cater to the domestic market. The electric model is due to launch in early 2024.
Toyota will manufacture both the SUV and the sedan at factories in Toyota City, Japan.
Toyota revamped a car that has been a showpiece of Japan's market for nearly seven decades in the attempt.
Toyota will also roll out a fully remodeled sedan version of the Crown this summer.
On the EV front, Toyota plans to invest $70 billion to electrify its automobiles by 2030.
Price Action: TM shares closed higher by 1.64% at $168.44 on Wednesday.