Toyota Motor Corporation (NYSE:TM) has unveiled its all-electric Toyota bZ4X SUV.
What Happened: The bZ4X is the first Toyota vehicle to be launched under the global bZ (Beyond Zero) series of battery electric vehicles (BEVs). The vehicle is being offered in two grades, XLE and Limited, in both Front-Wheel Drive and All-Wheel Drive models.
According to the company, the bZ4Xt has an Environmental Protection Agency-estimated range rating of up to 252 miles. The new vehicle will be available in the U.S. later in the spring at a starting MSRP of $42,000.
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Why It Happened: Toyota is planning to release roughly around 70 electrified models globally by 2025, with 15 dedicated BEVs including seven carrying the bZ brand.
Toyota said that is has more than 20 million electrified models now in use around the world, adding that it plans to invest more than $70 billion in electrified vehicles as a whole with the target to launch 3.5 million BEVs globally in 2030.
