Toyota’s Discloses EV Plans: All You Need To Know

Oct 29th, 2021 8:28 EST

  • Toyota Motor Corp (NYSE: TM) disclosed the driving range and other specifications of its bZ4X sport utility vehicle (SUV), the first in a series of EV-only models it plans to launch globally.

  • Toyota aims to launch 15 battery EV (BEV) models worldwide by 2025, Reuters reports. Toyota is yet to disclose a price range or sales target for the bZ4X.

  • Toyota will jointly develop and procure the core components with affiliate Subaru Corp (OTC: FUJHF) (OTC: FUJHY) to rein the high cost of producing BEVs.

  • Toyota will initially build the model on a mixed line with gasoline-engine cars, both in Japan and China.

  • It will be sold in Japan, North America, China, and Europe starting in mid-2022.

  • The car will have front-wheel and four-wheel-drive versions, with a driving range of about 500 km (310 miles) for the latter.

  • The car will have an optional roof-mounted solar panel to charge the battery.

  • Toyota aims to invest $13.5 billion through 2030 on EV batteries and introduce seven bZ series models by 2025.

  • Price Action: TM shares closed higher by 1.37% at $176.48 on Thursday.

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