As tensions rise in the electric vehicle space, Toyota prepares to revolutionize the industry by unveiling its inaugural EV equipped with an advanced autonomous driving technology, closing the gap with pioneering brands like Tesla. Toyota’s joint venture partner, GAC Toyota, has officially announced plans to launch an electric vehicle with advanced autonomous driving capabilities inspired by Tesla’s Full Self Drive technology in China within the next year.
Toyota plans to debut its first fully autonomous electric vehicle within the next year.
The GAC Toyota joint venture is a 50:50 partnership between Toyota Motor Corporation and the Guangzhou Automobile Group (GAC), a leading Chinese automotive manufacturer.
Information about Toyota’s electric vehicle strategy has been shared on its social media platforms, seemingly bridging the knowledge gap with industry leaders such as Tesla, XPeng, BYD, and NIO.
Toyota’s joint venture is poised to unveil the Bozhi 3X SUV next year, marking its inaugural electric vehicle model equipped with self-driving technology capabilities. The cutting-edge Autopilot system will enable advanced driver-assistance capabilities, including navigating roads, skillfully evading obstacles, and effortlessly parking – a feature set rivaling that of Tesla’s Full Self-Drive technology.
Underpinning this innovation is a newly forged partnership between our organization and Momenta, a pioneering autonomous vehicle startup based in Beijing. In a significant development, Toyota emerged as one of the prominent investors in Momenta’s 2021 Series C funding round.
According to reports, GAC Toyota is exploring the possibility of collaborating with Huawei to integrate the Chinese tech giant’s technology into their upcoming bZ3X electric sedan. The bZ3X debuted in October 2022 as Toyota’s second electric vehicle (EV), following the launch of the bZ4X.
The innovative technology is unique in that Momenta and Huawei collaborate to develop both software and hardware, presenting a comprehensive solution.
Toyota plans to introduce a cost-effective iron phosphate lithium battery by 2027, which is expected to reduce production costs by 40% compared to its current bZ4X model.
As China’s automobile market experiences a 22% decline through the initial four months of 2024, Toyota is poised to revitalize its lineup by incorporating innovative, forward-thinking technology.
Toyota is poised to replicate a key Tesla strategy by expanding its Lexus charging station network in Japan to accommodate various electric vehicles (EVs). Japanese automakers seem poised to withstand the challenge posed by low-cost Chinese electric vehicle (EV) manufacturers such as BYD, which recently introduced its third EV model in the Japanese market.
