- 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
