Don’t expect a sharp sticker price for the first-ever electric HiLux for showrooms, but Toyota knows it has to be “attainable” enough for fleets to afford.
The price of the first-ever electric Toyota HiLux for showrooms will be “attainable”, the Japanese car giant says, and there would be “no point” selling it if it were $100,000.
But Toyota has warned it will cost more than equivalent HiLux diesels, and given the prices of the brand’s other electric cars, it is unlikely to be cheap.
The market for electric utes in Australia has been almost non-existent, hamstrung by the sole offering – the LDV eT60 – starting from $92,990 plus on-road costs with a 330km driving range rating and only rear-wheel drive.
Toyota will wade into the market in the first half of 2026 with the HiLux BEV, a dual-motor, all-wheel-drive, battery-electric version of its new ute that will be available for all customers to purchase, but will be aimed at fleets, particularly mining companies.
MORE: 2026 Toyota HiLux BEV to be among Australia’s shortest-range electric cars – new details
The HiLux cannot even match the LDV on range – claiming 240km – but it is all-wheel drive, produces 144kW, and will be available in SR and SR5 trim grades, both in dual-cab form.
“I have no idea, but when I do, I’ll let you know,” Hanley said on pricing for the BEV. “It’s fair to say it’ll be dearer than the diesel cars we’ve got right now.”
The new diesel HiLux SR5 is priced from $65,990 plus on-road costs for a dual-cab automatic pick-up with 48-volt electrical assistance.
MORE: 2026 Toyota HiLux price and specs – entry price up $6000 with new model
Adding $15,000 to the price would make it a circa-$80,000 proposition, likely placing it as the most expensive HiLux in the line-up.
“We know this is not going to be our biggest seller, but it’s got to be competitive and affordable for those that want it, so it’s got to be attainable,” said Hanley.
“There’s no point putting it out there if it’s going to be a hundred grand, you know what I mean, like maybe you’re referencing. It’s got to be achievable, it’s got to be attainable.”
It is aimed at buyers who use their ute in “short distance operations” and will be happy with a “passenger-like payload”, setting it up as an ideal candidate for mining fleets which benefit from a zero tailpipe emissions vehicle when driving underground.
MORE: Toyota defends not-all-new 2026 HiLux – ‘this design is fine’
“We believe that we are strong in fleet. Almost half our annual sales are fleet businesses – not quite, just slightly under – so they’re an important part [of our business],” Hanley said.
“Where this will appeal will actually be mining – massively. Again, I don’t wanna sit here and say to you ‘it’s gonna take the world by storm and volume’. [It’s] not going to do that. It’s not meant to do that. That’s not why we’re launching it.
“But there is a niche market out there where we can put this car, and in mining it will be, I think, our biggest target market. Now, [that’s] not to say some tradies may not want it. They may … It’s possible.”
Australian start-up MEVCO was among the firms looking to capitalise on growing demand for electric utes by mining fleets, commencing its operations in 2023 with a deal to sell HiLux and LandCruiser utes converted to battery power by a Melbourne-based company.
MORE: Toyota HiLux could embrace biofuel ahead of electric or enhanced hybrid
It later shifted its business to selling mining-ready Rivian utes imported from the US – before entering administration in September – after finding “no mine wants a product that’s not supported by the OEM [car manufacturer],” its CEO Matt Cahir said in a magazine interview earlier this year.
It opens the door to an opportunity for Toyota to keep mining customers looking to move away from diesel in its books.
“The new double-cab, 4×4 HiLux BEV will, of course, be available for anyone who wishes to purchase one. But we are primarily targeting fleets and urban trade users that will benefit most from the advantages the BEV offers.”
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