Meet Toyota, the Monster EV Stock That Continues to Soar

You probably don't think of Toyota Motor (NYSE: TM) as a maker of electric vehicles (EVs). The Japanese automaker has been a dominant force in traditional gas cars for nearly a century. Toyota was a pioneer in hybrid vehicles, and the Prius is still a big seller after 27 years on the global market.But the times, they are a-changin'. Electrified vehicles accounted for 45% of Toyota's total sales volume in 2024. Its car sales rose 4.2% last year but EV sales soared 56% higher. Long story short, Toyota remains a dominant leader in the automobile market, but its products are going electric at a tremendous speed.And it's not all about hybrids with or without plug-in charging ports, either. One of Toyota's fastest-growing luxury models in 2024 was the Lexus RZ, an all-electric SUV starting at $44,000. Full-year sales of this model rose from 5,386 in 2023 to 9,697 in 2024 -- a 79% jump. And on the mass-market side, the $37,000 Toyota bZ4X nearly doubled its sales from 9,329 to 18,570.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool