Toyota's Discloses EV Plans: All You Need To Know

Toyota Motor Corp TM disclosed the driving range and other specifications of its bZ4X sport utility vehicle (SUV), the first in a series of EV-only models it plans to launch globally.
Toyota aims to launch 15 battery EV (BEV) models worldwide by 2025, Reuters reports. Toyota is yet to disclose a price range or sales target for the bZ4X.
Toyota will jointly develop and procure the core components with affiliate Subaru Corp FUJHF FUJHY to rein the high cost of producing BEVs.
Toyota will initially build the model on a mixed line with gasoline-engine cars, both in Japan and China.
It will be sold in Japan, North America, China, and Europe starting in mid-2022.
The car will have front-wheel and four-wheel-drive versions, with a driving range of about 500 km (310 miles) for the latter.
The car will have an optional roof-mounted solar panel to charge the battery.
Toyota aims to invest $13.5 billion through 2030 on EV batteries and introduce seven bZ series models by 2025.
Price Action: TM shares closed higher by 1.37% at $176.48 on Thursday.