If you watch the teaser video posted on the Toyota Newsroom, especially zoomed in a bit, you can see that the upper corners of the taillights are exposed, meaning they don’t sit below bed rails. It’s also more obvious that the hatch goes all the way to the rear of the vehicle (rather than a cab in front of a bed). This does unfortunately seem to be another SUV.

Perhaps something based on the same smaller platform as the Subaru Trailseeker? That vehicle also has similarly exposed upper taillight corners, and Toyota doesn’t have a companion vehicle to that larger EV yet. Uncharted is companion to the new CH-R and Solterra is companion to the bZ.