Toyota eyes EV production in U.S. possibly in 2025: source

Toyota Motor Corp. plans to start producing electric vehicles in the United States possibly in 2025, a source close to the matter said Wednesday, with an eye on the growing market for eco-friendly cars amid tougher environmental regulations.

The move by the Japanese automaker comes as a U.S. law enacted last year to incentivize the use of green technology requires final assembly of EVs to occur in North America to qualify for tax credits.

Toyota, which has set a goal of selling 3.5 million EV units worldwide in 2030, is also considering producing vehicles in Europe.

The production of EVs in th...