Toyota's electrified SUV will not start U.S. production next year, and their luxury brand extension EV isn't happening.

Toyota Motor will postpone the start of electric-vehicle production in North America to the first half of 2026 due to design adjustment and slowing EV sales, the Nikkei business daily reported on Thursday.

Despite the delay, Toyota reaffirmed its plans to roll out five to seven new EV models in the U.S. over the next two years. Toyota has also reportedly canceled plans to start building an electric Lexus in the U.S. by 2030, electing instead to build them overseas and then ship them over.