Korean auto brands have already flooded the US market
Hyundai/Kia new EV sales in the US in 2025 was about 108,000. source
Toyota sold about 248,000 new Corollas in North America in 2025. source
Or, put another way, Toyota sold over 2.5 million new cars in North America while total EV sales in the US were about 1.3 million.
There's plenty of room for new entrants to compete in the US EV market, and probably Canada.
Also, Toyota is committing to competing globally against the Chinese automakers. They're building out a new factory in Shanghai to produce the EV version of the Lexus ES, an electrified version of one of their best selling sedans (and also a major part of their EV strategy in North America).
They have more time than any traditional automaker to get it right, because they already have the current profits to be able to build things out. They're late to the game, but this competition will still play out for decades.