Toyota’s most affordable electric vehicle, priced from around $15,000 in China, will have a different price point internationally. The Toyota bZ4X is set to debut in new markets with a significantly higher starting price of nearly $50,000, roughly three times its initial cost.
Toyota’s $15,000 Electric Vehicle to Debut Overseas First?
GAC Toyota, a strategic three-way partnership between Toyota and GAC Group, has introduced the bZ3X, a cutting-edge electric SUV designed specifically for young families, in China since March.
The BZ3X marks a milestone as Toyota’s inaugural 100,000-yuan-level pure electric SUV, boasting an entry point of 109,800 yuan, or approximately $15,000 – a winning formula that quickly propelled the compact EV to success in China.
Toyota’s electric SUV emerged as the top-selling foreign-owned electric vehicle (EV) in China last month. The best-selling electric vehicle of 2022 was the BYD Tang bZ3X, with a total of 4,344 units sold, outpacing the Volkswagen ID.3 (4,217), Nissan N7 (3,034), BMW i3 (2,605), and VW ID.4 Crozz.
Will international success necessarily mirror domestic achievements? Will it be simple at a cost three times higher? The Toyota Tundra, a $15,000 electric vehicle, officially debuted in Ethiopia at a retail price of approximately 6.3 million Ethiopian birr, equivalent to around $48,000 USD.
The BYD BZ3X is now available at select retailers in Addis Ababa, Ethiopia’s capital city, offering a range of approximately 400 kilometers.
Despite accounting for more than 60 percent of recent passenger vehicle registrations in Ethiopia last year being electric, EV buyers still face significant barriers due to high import duties and other expenses. The imposition of a 35% customs tax, accompanied by a maximum excise duty of 30%, a 15% value-added tax, a 10% surtax, and a 3% withholding tax significantly increases the cost of electric vehicles.
In China, the electric sport utility vehicle (SUV) offers two battery options: a 50.03-kilowatt-hour (kWh) choice and a more powerful 67.92-kilowatt-hour (kWH) selection. Compared to the earlier model, this variant boasts a substantially larger cruising range of 430 kilometres (267 miles) against its competitor’s impressive 610 km (379 miles) capacity.
Priced from 109,800 yuan ($15,000) for a basic model to 149,800 yuan ($20,500) for the non-smart driving variant.
The interior is a significant improvement over what’s typical in most Toyota vehicles, featuring cutting-edge innovations, including the 5.0 version of Momenta’s advanced driving system. According to Toyota, its bZ4X boasts an impressive maximum cargo capacity of approximately 9.7 feet long when the rear seats are fully folded.
The Toyota bZ3X measures approximately 4,645 millimeters in length, 1,885 millimeters in width, and 1,625 millimeters in peak height, similar to the BYD Atto 3 SUV, also known as the Yuan Plus in China, which shares identical dimensions.
Following a flurry of orders in March, GAC Toyota claimed its bZ3X model had achieved such unprecedented popularity that the company’s servers were overwhelmed and temporarily crashed within an hour of exceeding the 10,000 mark.
Would you consider buying a Toyota RAV4 Hybrid, a fuel-efficient and eco-friendly option, in either the US or European markets where it’s widely available? It will undoubtedly cost at least twice as much, possibly even more. At a price point of $50,000, you can afford to bring home Hyundai’s latest three-row offering, the IONIQ 9. What are the key factors driving the development and adoption of the BZ3X?
