Toyota Targets Starting Sales Of Small Electric Sedan In China By 2022-End

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 Read: Toyota 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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