Toyota is now the only car company to get the green light from the EPA to bring a hybrid electric car to the US market.
The EPA approved Lexus’ hybrid electric vehicle in September, and the company is now on track to be ready to introduce a production car to consumers in 2020.
The company says that the car, which has been named Lexus EV, will be built at its plant in Chattanooga, Tennessee, and will have a range of more than 350 miles (600 km) on a single charge.
The car’s electric motor will be controlled by the Lexus software.
“We are very excited about the prospect of driving with Lexus, as it represents the next chapter in the evolution of electric mobility,” Toyota president and CEO Akio Toyoda said in a statement.
“With the power and speed of the new Lexus electric vehicle, we are making it possible for Americans to travel and work anywhere in the world, without ever leaving the comfort of their homes.”
Lexus plans to begin production of the Lexuses EV in 2018.
The new electric car will be the first hybrid electric vehicles in the US, and it will compete against Tesla’s Model S and Nissan’s Leaf.
Toyota also plans to sell more electric cars and SUVs in the future.
The Lexus is the first EV to compete with the Tesla Model S, which is a premium SUV priced at $100,000.
The Model S is one of the most successful electric vehicles ever sold, but the company also announced that it would build a new version of its Prius hybrid electric, called the Prius V, for the US.
The Prius will be able to go 150 miles (240 km) between charges, which Toyota says is the equivalent of two and a half hours of driving.
Toyota plans to produce 200,000 Prius EVs in 2021.
Toyota is also working on a Prius Hybrid with an estimated range of about 350 miles, but it will not have a production model ready by 2020.