Toyota Targets Starting Sales Of Small Electric Sedan In China By 2022-End - Toyota Motor (NYSE:TM)

  • Toyota Motor Corp TM is expected to begin sales and production of a small electric sedan by the end of 2022.
  • The production is a part of Toyota’s collaboration with the Chinese battery company, BYD Co Ltd, Reuters reported.
  • The bZ3 sedan, slated for sale in only China now, will be the second model in the Beyond Zero (bZ) series of battery electric vehicles (BEVs) from Toyota.
  • The bZ4X sport-utility vehicle, the first in the bZ series, was forced to suspend production after a global recall.
  • Also ReadToyota Cuts October Production As Supply Chain Woes Continue
  • The bZ3 sedan is expected to be priced around 200,000 yuan ($28,000), 30% less than an entry-level Tesla, Inc. TSLA Model 3.
  • The report added that the sedan will be produced in Tianjin at the capacity of 30,000 vehicles a year.
  • Price Action: TM shares closed higher by 0.09% at $135.74 on Tuesday.
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