Nagoya – Toyota Motor is planning to cancel the development of a next-generation electric vehicle amid a sluggish global EV market.

The automaker said Friday that it will, instead, allocate its management resources to the development of SUVs, which are in strong demand.

Specifically, Toyota plans to scrap development of a mass-production model of the LF-ZC electric sedan under its Lexus luxury car brand. The model was set to go into production in mid-2027.

The LF-ZC was slated to feature an all-solid-state battery, a next-generation battery designed to reduce charging time compared with lithium-ion batteries and extend driving range to roughly 1,000 kilometers per charge.

Meanwhile, Toyota will continue its research and development into cutting-edge EV technologies, including all-solid-state batteries and gigacasting, a manufacturing process in which aluminum vehicle parts are produced as a single casting.

Toyota has adopted a multi-pathway approach, under which it provides customers with a wide…