- 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.
