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Benzinga
Benzinga
Business
Shivani Kumaresan

Toyota To Launch Its New Electric SUV On May 12 In Japan

Toyota Japan TM NYSE Toyota Motor Corp
  • Toyota Motor Corp (NYSE:TM) plans to launch its new electric sports utility vehicle (SUV), bZ4X BEV, on May 12 in Japan.
  • The battery-electric vehicle (BEV) dedicated platform is a first for Toyota. It aims to offer power efficiency (128Wh/km), a cruising range for practical driving of 559 km, and a battery retention ratio of 90% after 10 years.
  • In Japan, all vehicles will be leased to eliminate customer concerns regarding BEVs, while implementing battery management for all vehicles to promote the 3Rs (Rebuild, Reuse, Recycle) of batteries.
  • Toyota will commence the first phase by accepting applications for the first 3,000 units on May 12.
  • A total of 5,000 units for production and sales are planned for the first year.
  • The company is developing a lineup of electric vehicles as part of its measure to achieve carbon neutrality (CN) by 2050 and reduce CO2.
  • Price Action: TM shares closed lower by 0.67% at $169.64 on Monday.
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