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Toyota eyes cost cuts, scale with first of EV-only bZ series -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A booth with the Toyota logo was occupied by journalists at the Auto Shanghai exhibition in Shanghai, China on April 19, 2021. REUTERS/Aly Song

Maki Shiraki

TOKYO (Reuters). Toyota Motor (NYSE 🙂 Corp revealed Friday the specs and driving range for its bZ4X SUV (sport utility vehicle) (SUV). This is one of a number of EVs it intends to market globally.

According to the world’s largest carmaker, it plans to launch 15 BEV models by 2025. However, its intentions seem small compared with U.S. automakers General Motors Co (NYSE 🙂 and Ford Motor Co (NYSE 🙂 Co.

Toyota has not yet announced a pricing range or sales goal for the bZ4X. However, it stated that the bZ4X would benefit from joint development and procurement with Subaru’s affiliate Subaru (OTC:) Corp to reduce the usual high costs associated with producing BEVs.

It would be constructed initially on a mixture of gas-engined cars in Japan and China. The company stated that the model will start to be sold in Japan and North America in 2022.

This car is available in four-wheel or front-wheel drive, and has a range approximately 500 km (315 miles for the former). Toyota stated that an optional rooftop-mounted solar panel could be used in case of inclement weather to recharge the battery.

Toyota, which is a latecomer in the mass BEV market has always praised the benefits of hybrid cars, a class it has controlled for over 20 years for its lower cost and accessibility, and, by extension, their greater contribution to reducing CO2 emissions.

Toyota stated that as countries tighten emission standards, it would spend $13.5 billion on electric vehicles by 2030. It also plans to introduce seven bZ Series models in 2025.

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