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Benzinga

Business

Shivani Kumaresan

Toyota Launches First Battery Electric Car In Japan: Reuters

Toyota Japan TM NYSE Toyota Motor Corp Wikimedia Commons SUV electric vehicles

Toyota Motor Corp (NYSE:TM) has unveiled its first mass-produced battery electric car in Japan, Reuters reported.
The car is being made available for only lease, a strategy the automaker said will ease driver concerns about battery life and resale value.
Toyota will lease the bZ4X sport utility vehicles (SUV) at the equivalent of $39,000 for the first four years, the report added.
It aims to lease 5,000 of the SUVs in the current financial year.
Gasoline-electric hybrid models are much in demand in Japan compared to electric vehicles (EV).
The automaker plans to start selling the bZ4X in other markets in late 2022.
Toyota has committed 8 trillion yen ($62 billion) to electrify its cars by 2030.
Price Action: TM shares closed lower by 5.64% at $157.06 on Wednesday.
Photo Via Wikimedia Commons

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