Latest news with #ToyotabZ4x
25-04-2025
- Automotive
New automaker Slate unveils a no-frills, stripped down electric truck for under $30K
The country's electric vehicle market has an affordability problem. Enter Slate, a new company backed by Amazon CEO Jeff Bezos and two investment funds. On Thursday, its CEO unveiled an inexpensive, spartan electric truck that comes at a critical time for U.S. consumers and the industry. Priced below $30,000, the truck, which will be built in an undisclosed location in the Midwest, could sway more price-conscious Americans to buy an EV. Plus, the $7,500 federal tax credit drops the starting price to under $20,000, according to Chris Barman, Slate's CEO. "This is a radically affordable and customizable vehicle," Barman told ABC News ahead of the truck's global debut. "We only put the essentials, the basics, in the vehicle. We wanted to strike a good balance with price and range." The truck's range is 150 miles and jumps to 240 miles if a customer chooses to purchase the extended battery pack. Barman, an industry veteran, described the philosophy of the truck as "plug and play," saying customers can opt for a basic version or pay more for luxuries like power windows and an exterior color. The truck, which can also be transformed into an SUV, rolls off the line in a standard gray hue. "It's all about value and keeping the price low," Barman noted. "There's no radio or infotainment system. Customers can bring in a Bluetooth speaker. Manual windows that you crank by hand was a cost-saving measure. But there is heat and air conditioning." Barman estimates that adding back popular features would raise the price by about $10,000. The vehicle may not have a "native" navigation system but it does come equipped with standard safety tech: a backup camera, automatic emergency braking, forward collision warning, a forward-facing camera and auto high-beam headlights. For $50, interested buyers can place a reservation on the Slate website. Production begins in the fourth quarter of 2026, according to Barman. Tony Quiroga, editor-in-chief of Car and Driver, said he's "really excited" to see the truck in person. "It's a bare-bones, stripped-down EV for people who wouldn't necessarily be able to buy one," he told ABC News. "For some EV buyers, price is more important. If your commute is pretty short and you have charging at home, you can use an EV that doesn't have a lot of range." He added, "Hopefully it does what the [Ford] Maverick did for the small pickup truck segment -- opening up an entirely new segment that no one had really filled." The high MSRPs of electric cars and SUVs, even with federal and state credits, have prevented a large chunk of Americans from owning one. Even some of the cheapest models currently available -- the Hyundai Kona, Toyota bZ4x, Fiat 500e, Chevy Equinox EV and Nissan Leaf and Nissan Ariya -- cost more than $30,000. Earlier this week, Tesla CEO Elon Musk reaffirmed that his company was on track to build a low-cost vehicle, with production starting at the end of June. "There are a lot of people -- way more than we talk about -- who just need an affordable car," Erin Keating, executive analyst at Cox Automotive, told ABC News. "Why does someone buy a 10-year-old car? It's affordable and gets you from A and B. People overestimate the technology lower-income individuals need." The average transaction price of a new EV in March was $59,205 before incentives and discounts, according to Cox Automotive. To move inventory, dealers across the country are offering competitive deals on new models, including luxury brands. "Recent tariffs on imported EV batteries and components from China, which accounted for approximately $1.9 billion worth of lithium-ion batteries in 2024, could further increase transaction prices, as these tariffs could raise the cost of imported materials by up to 82%," Cox analysts noted in their analysis. Keating noted that Slate could become the "Spirit Airlines" of the auto industry and its low-cost strategy may work -- if federal tax incentives stick around. "We're struggling with affordability for vehicles and this is a solid opportunity for Slate to grab some market share off the bat," she said. "Don't hold breath though that the EV credit will stick around for long. Everyone assumes it will go away." Tyson Jominy, vice president of data and analytics at J.D. Power, said it's unclear if consumers will accept an austere vehicle when many are willing to pay up for driver assistance systems and luxe interiors. "Will consumers give up all the screens and creature comforts and tech? We're getting really close to finding out that answer," he told ABC News. "Everyone wants to talk about affordability and yet we continue to move further away from it. Monthly payments continue to trend higher because of interest rates but also because trade-in values of cars continue to go down." He went on, "The pressure to have an affordable vehicle will only increase as the number of affordable vehicles likely decreases because of tariffs." Jominy pointed out that Slate executives chose a two-seat, single cab design, a questionable move when SUVs dominate the nation's roads and driveways. "Single cab pickup sales are under 1% ... and SUVs outsell regular cab pickups 100 to 1," he said. "If you have the ability to launch as an SUV, just do the SUV." Barman argued that Slate fills a gaping hole in the U.S. auto market.
Yahoo
18-03-2025
- Automotive
- Yahoo
Subaru and Toyota to Launch New Electric Compact SUVs in 2026
Toyota and Subaru are preparing to launch a new pair of electric compact SUVs in 2026 as part of their ongoing partnership. The two automakers previously worked together on the Toyota bZ4x and Subaru Solterra, and their latest collaboration will expand their presence in the growing EV market, CarScoops reported. These new models are expected to target a wider audience by adopting a more traditional SUV shape. Unlike the bZ4x and Solterra, which feature a low-slung, futuristic design, the upcoming SUVs could resemble the next-generation Toyota RAV4, with a sharper nose, roof rails, and a more upright rear end. While the Toyota and Subaru versions will likely share most of their design and components, each will have a distinct front-end styling to maintain brand identity. Like the bZ4x and Solterra, the new EVs are expected to ride on the e-TNGA platform, which Toyota developed for its electric models. This will allow them to share battery packs, electric motors, and other key components, reducing development costs for both automakers. The use of a common platform also enables Toyota and Subaru to focus resources on other EV projects while maintaining a competitive position in the compact SUV segment. A key difference from the bZ4x and Solterra is that the new electric SUVs will reportedly be produced at Subaru's Yajima plant in Japan rather than Toyota's Motomachi facility. Production is set to begin in January 2026, with the vehicles expected to launch shortly after. Toyota recently teased three upcoming EVs set to launch by 2026. Two of these vehicles appear to be production versions of the EPU electric pickup and the Land Cruiser SE concept, both of which were first shown in 2023. The third teaser remains unidentified, but speculation suggests it could be Toyota's version of the upcoming compact SUV developed with Subaru. If this is the case, the teaser hints at a design that leans toward a more conventional SUV silhouette, departing from the bZ4x and Solterra's sleeker crossover styling. The new models could offer a more rugged look, which may appeal to buyers who prefer a traditional SUV stance. Toyota has been steadily growing its electric vehicle lineup in key markets. In Europe, the automaker currently offers the bZ4x, C-HR+, and Urban Cruiser EVs. Meanwhile, Subaru's only EV offering remains the Solterra. The introduction of this new SUV will help Subaru broaden its electric vehicle lineup, as the automaker aims to launch four EVs in partnership with Toyota over the next few years. In addition to its collaborations with Toyota, Subaru has announced plans to develop its first in-house electric vehicle, which is expected to arrive by 2028. This is part of Subaru's broader strategy to have EVs account for half of its global sales by 2030. The new Subaru and Toyota electric SUVs are expected to be available in Japan, Europe, and the U.S., reinforcing both brands' commitment to expanding their EV portfolios. As the 2026 launch approaches, more details will likely emerge, providing a clearer picture of how these models will compare to existing electric SUVs in the market.
