Toyota is making a big move in the Chinese electric vehicle market by slashing prices on its first electric SUV, the bZ4X. In an effort to boost sales and remain competitive, Toyota has reduced the starting price of the bZ4X to less than $25,000 (169,800 RMB).
The bZ4X was first launched in China in October 2022, with a starting price of 199,800 yuan (around $29,000). However, Japanese automakers have been lagging when introducing electric vehicle technology, and Toyota has only sold 3,844 bZ4X models in China through January, accounting for a mere 0.26% of the fully electric vehicle market.
To sweeten the deal, Toyota is offering an optional solar charging module that can provide over 1,000 additional miles (1,750 km) of driving range per year for 20,000 RMB ($2,800). The two joint ventures (FAW-Toyota and GAC-Toyota) that sell the bZ4X made the price adjustments at the same time.
The news comes shortly after incoming Toyota president Koji Sato claimed he will implement an “EV-first” approach when he takes the reins in April. This move is likely in response to Tesla’s price cuts in China and other automakers like XPeng who have also reduced prices on their most popular EVs by up to $5,300.
Toyota is looking to claim market share and satisfy the growing demand for sustainable transportation. With Sato set to take over in April, it seems like Toyota is going after the biggest market for EVs in China.
FAQ
Q1. When will electric cars be available in the UK?
A1. Electric cars are already available in the UK and can be purchased from a variety of dealerships.
Q2. Where can I find electric car charging stations near me?
A2. You can find electric car charging stations near you by using online maps or apps such as PlugShare or ChargePoint.
Q3. Which electric car is the best?
A3. The best electric car depends on your individual needs and preferences. Some popular models include the Tesla Model 3, Nissan Leaf, and Chevrolet Bolt EV.
