Cheaper electric vehicles (EVs) are on the horizon. Toyota’s new City Electric SUV concept aims to challenge the affordable Volvo XC40 Recharge as the most budget-friendly EV on the market, targeting a starting price of around $25,000.
Toyota’s budget-friendly electric vehicle (EV) aims to shake up the low-cost market.
Toyota unveiled its City electric SUV concept at its annual Kenshiki forum in Brussels on Monday.
The concept is poised to become one of five innovative electrical trends set to hit the European market by 2026. Toyota has reportedly unveiled a “close-to-production” concept design for an all-new electric vehicle (EV), slated to hit the market within the next year, with its City SUV design serving as a precursor.
Drawing inspiration from the Toyota Yaris Cross, a highly successful model in its class. Compact in size but unapologetic in its presence, the crossover SUV defies expectations with its bold “no compromises” design language, characterized by prominent wheel arches and an assertive stance that belies its diminutive dimensions.
When it debuts, Toyota’s City electric SUV is expected to be offered with both front-wheel drive and all-wheel drive options.
Toyota asserts that it has successfully optimized interior space to provide a versatile cabin accommodating either passengers or cargo with ease.
Prospects will have the flexibility to choose between two battery options. One option would likely prioritize affordability, while the other would offer additional flexibility?
Toyota reportedly intends to launch next-generation battery technology for electric vehicles by 2026, with details yet to be disclosed. The corporation aims to increase its sales volume by 20%, while simultaneously reducing prices by 40% compared to the current bZ4X model.
At approximately 4,300mm in length, 1,820mm broad, and 1,620mm tall, Toyota’s City electric SUV will immediately compete with Volvo’s new EX30, which measures 166.7 inches long, 72.3 inches wide, and 61.2 inches high.
Volvo anticipates the EX30, its most compact and affordable electric vehicle, to have a significant impact on sales when it arrives.
Toyota Europe’s advertising director, Andrea Carlucci, suggested that the upcoming Toyota GR EX30 could pose stiff competition in the market, potentially priced around €35,000, or approximately $38,000.
The EX30 is available in three powertrain configurations, priced between €33,795 and €40,995 in European markets, offering up to 295.8 miles of mixed range. In the United States, the electric SUV is now available in two powertrain options, offering a range of up to 275 miles.
Toyota plans to unveil more details about its upcoming electric SUV in the first half of 2024. Toyota is poised to launch its next-generation electric vehicle (EV) within the next 12 months, aiming to expand its EV offerings by 2026 with a diverse range of models.
Toyota has recently showcased a plethora of innovative electric vehicle concepts, including the all-new compact City electrical SUV, which joins the lineup alongside other revolutionary models such as the Electrical PickUp, Land Cruiser, and a compact electrical SUV.
Electrek’s Take
Toyota has long been committed to reducing the cost of batteries. Will customers get the chance to own and drive a pioneering new compact electric SUV?
The manufacturer anticipates its brand-new electric vehicle will compete in one of Europe’s most promising battery-electric vehicle market segments, where it must rival newcomers like Volvo’s EX30, Jeep’s Avenger, Hyundai’s Kona Electric, Kia’s Niro, and BYD’s Atto 3. These assets all possess relatively modest initial valuation markers.
Toyota may need to consider lowering its prices to remain competitive in the market. The buzz surrounding Toyota’s upcoming City electric SUV is intensifying as the vehicle approaches its highly anticipated launch. Will the newcomer revolutionize the compact electric SUV market?
