Latest news with #GACToyota
Yahoo
10-03-2025
- Automotive
- Yahoo
Toyota launches its cheapest smart EV in China, aims to up market share
SHANGHAI (Reuters) - Japan's Toyota began selling a $20,000 smart electric car in China this week, aiming to attract buyers with its advanced features similar to Chinese rivals, as the automaker ups efforts to regain share in the world's largest auto market. Toyota has had limited success so far with its previous electric vehicle (EV) models in a hugely competitive market dominated by local players such as Chinese EV giant BYD . It began taking orders for its latest - and much cheaper - model, the Bozhi 3X, on Thursday. Toyota and its Chinese partner, state-owned Guangzhou Automobile Group (GAC), had first unveiled the car at an autoshow in Beijing last year. More than 10,000 orders were received within an hour of the launch, Peng Baolin, a vice president of sales at GAC Toyota, said on his Weibo social media account on Thursday. The price for models with navigation capabilities similar to Tesla's full self-driving version starts at 139,800 yuan ($19,297.66). The less advanced version is priced at 104,800 yuan, making it Toyota's cheapest EV in China. GAC Toyota declined to comment on questions regarding export plans and how profitable the model would be, given the low pricing. The smart version is equipped with an Orin X chip, a lidar and Momenta's smart driving software, which is comparable to peers. A long-running price war in China's EV market entered a new phase last month after BYD said it would offer advanced driving-assisted features on several models, including those priced below $10,000, for no extra charge. ($1 = 7.2444 Chinese yuan renminbi)
Yahoo
08-03-2025
- Automotive
- Yahoo
Toyota launches its cheapest smart EV in China, aims to up market share
SHANGHAI (Reuters) - Japan's Toyota began selling a $20,000 smart electric car in China this week, aiming to attract buyers with its advanced features similar to Chinese rivals, as the automaker ups efforts to regain share in the world's largest auto market. Toyota has had limited success so far with its previous electric vehicle (EV) models in a hugely competitive market dominated by local players such as Chinese EV giant BYD . It began taking orders for its latest - and much cheaper - model, the Bozhi 3X, on Thursday. Toyota and its Chinese partner, state-owned Guangzhou Automobile Group (GAC), had first unveiled the car at an autoshow in Beijing last year. More than 10,000 orders were received within an hour of the launch, Peng Baolin, a vice president of sales at GAC Toyota, said on his Weibo social media account on Thursday. The price for models with navigation capabilities similar to Tesla's full self-driving version starts at 139,800 yuan ($19,297.66). The less advanced version is priced at 104,800 yuan, making it Toyota's cheapest EV in China. GAC Toyota declined to comment on questions regarding export plans and how profitable the model would be, given the low pricing. The smart version is equipped with an Orin X chip, a lidar and Momenta's smart driving software, which is comparable to peers. A long-running price war in China's EV market entered a new phase last month after BYD said it would offer advanced driving-assisted features on several models, including those priced below $10,000, for no extra charge. ($1 = 7.2444 Chinese yuan renminbi) Sign in to access your portfolio
Yahoo
07-03-2025
- Automotive
- Yahoo
Toyota unveils an all-electric China SUV that's priced to compete in the world's most fierce car market
Toyota has been slow to embrace electric cars. Chair Akio Toyoda has, at times, criticized a single-minded rush towards EVs and instead touted a 'multi-pathway' approach that includes hybrids and hydrogen cars. But the world's largest carmaker may be warming up that segment of the market, driven by China's obsession with EVs. On Thursday, Toyota rolled out an electric SUV in China. The 5-seat bZ3X is developed by GAC Toyota, Toyota's Chinese joint venture. Toyota has previously struggled to keep up with Chinese automakers in the battery EV market, but its latest vehicle is priced to compete with Chinese automakers. The entry-level model is priced at just under 110,000 yuan ($15,170) making it Toyota's cheapest EV in China. A model that includes an advanced driver assistance system that can handle tasks like lane changing and merging starts at 139,800 yuan ($19,279). China is the world's largest EV market, and competition among automakers—both startups and established manufacturers—is intense. Chinese carmakers not only compete on price, but now also include advanced features to stand out. BYD, the leading Chinese brand, went as far as to include advanced driver assistance systems in its latest model, priced under $10,000. Peng Baolin, GAC Toyota's vice president of sales, wrote on Weibo that the company received more than 10,000 orders within an hour of the SUV's launch. The company also said the car was 'so popular that the server crashed,' according to Electrek. Toyota's choice of battery might have helped bring costs down. The bZ3X uses lithium iron phosphate (LFP) batteries, which are more affordable than the standard lithium-ion batteries. LFP batteries, heavily used by Chinese carmakers like BYD, forgo some range in exchange for lower costs. The new SUV comes just a month after Toyota announced it was building a new wholly-owned plant in Shanghai, focusing on Lexus batteries and battery EVs. At the time, Toyota said that its Chinese employees would lead development of the company's made-in-China cars in order to better serve domestic customers. 'Our goal is to become a company that is more loved and supported by the people of China,' chief financial officer Yoichi Miyazaki said. This story was originally featured on
Zawya
07-03-2025
- Automotive
- Zawya
Toyota launches its cheapest smart EV in China, aims to up market share
SHANGHAI - Japan's Toyota began selling a $20,000 smart electric car in China this week, aiming to attract buyers with its advanced features similar to Chinese rivals, as the automaker ups efforts to regain share in the world's largest auto market. Toyota has had limited success so far with its previous electric vehicle (EV) models in a hugely competitive market dominated by local players such as Chinese EV giant BYD . It began taking orders for its latest - and much cheaper - model, the Bozhi 3X, on Thursday. Toyota and its Chinese partner, state-owned Guangzhou Automobile Group (GAC), had first unveiled the car at an autoshow in Beijing last year. More than 10,000 orders were received within an hour of the launch, Peng Baolin, a vice president of sales at GAC Toyota, said on his Weibo social media account on Thursday. The price for models with navigation capabilities similar to Tesla's full self-driving version starts at 139,800 yuan ($19,297.66). The less advanced version is priced at 104,800 yuan, making it Toyota's cheapest EV in China. GAC Toyota declined to comment on questions regarding export plans and how profitable the model would be, given the low pricing. The smart version is equipped with an Orin X chip, a lidar and Momenta's smart driving software, which is comparable to peers. A long-running price war in China's EV market entered a new phase last month after BYD said it would offer advanced driving-assisted features on several models, including those priced below $10,000, for no extra charge. ($1 = 7.2444 Chinese yuan renminbi)
Yahoo
07-03-2025
- Automotive
- Yahoo
Toyota launches its cheapest smart EV in China, aims to up market share
SHANGHAI (Reuters) - Japan's Toyota began selling a $20,000 smart electric car in China this week, aiming to attract buyers with its advanced features similar to Chinese rivals, as the automaker ups efforts to regain share in the world's largest auto market. Toyota has had limited success so far with its previous electric vehicle (EV) models in a hugely competitive market dominated by local players such as Chinese EV giant BYD . It began taking orders for its latest - and much cheaper - model, the Bozhi 3X, on Thursday. Toyota and its Chinese partner, state-owned Guangzhou Automobile Group (GAC), had first unveiled the car at an autoshow in Beijing last year. More than 10,000 orders were received within an hour of the launch, Peng Baolin, a vice president of sales at GAC Toyota, said on his Weibo social media account on Thursday. The price for models with navigation capabilities similar to Tesla's full self-driving version starts at 139,800 yuan ($19,297.66). The less advanced version is priced at 104,800 yuan, making it Toyota's cheapest EV in China. GAC Toyota declined to comment on questions regarding export plans and how profitable the model would be, given the low pricing. The smart version is equipped with an Orin X chip, a lidar and Momenta's smart driving software, which is comparable to peers. A long-running price war in China's EV market entered a new phase last month after BYD said it would offer advanced driving-assisted features on several models, including those priced below $10,000, for no extra charge. ($1 = 7.2444 Chinese yuan renminbi)
