Toyota To Launch Its New Electric SUV On May 12 In Japan - Toyota Motor (NYSE:TM)

Toyota Motor Corp TM plans to launch its new electric sports utility vehicle (SUV), bZ4X BEV, on May 12 in Japan.
The battery-electric vehicle (BEV) dedicated platform is a first for Toyota. It aims to offer power efficiency (128Wh/km), a cruising range for practical driving of 559 km, and a battery retention ratio of 90% after 10 years.
In Japan, all vehicles will be leased to eliminate customer concerns regarding BEVs, while implementing battery management for all vehicles to promote the 3Rs (Rebuild, Reuse, Recycle) of batteries.
Toyota will commence the first phase by accepting applications for the first 3,000 units on May 12.
A total of 5,000 units for production and sales are planned for the first year.
The company is developing a lineup of electric vehicles as part of its measure to achieve carbon neutrality (CN) by 2050 and reduce CO2.
Price Action: TM shares closed lower by 0.67% at $169.64 on Monday.