They have already made an EV in the past in 2014 with the Rav4 EV. They certainly can do it, but they are more concerned about the efficiency of which the world is using battery materials.
It's a shame they discontinued it. A lot of people loved them.
https://global.toyota/en/detail/152289
https://pressroom.toyota.com/all-electric-toyota-rav4-ev-fir...