Toyota Motor Corp. $TM is phasing out the gasoline-powered version of its top-selling US model, the RAV4. Starting with the next generation, set for launch later this year, RAV4 will be sold exclusively with hybrid or plug-in hybrid (PHEV) powertrains. This bold step follows the automaker's complete transition of the Camry sedan to a hybrid-only lineup in 2024, signaling a sharpened focus on electrified mobility in the American market.