- Toyota Motor Corp TM is scheduled to start selling and producing a small electric sedan by the end of 2022.
- The production is part of Toyota’s collaboration with the Chinese battery company, BYD Co Ltd, Reuters reported.
- The bZ3 sedan, currently only available for sale in China, will be the second model in Toyota’s Beyond Zero (bZ) series of battery electric vehicles (BEVs).
- The sport utility vehicle bZ4X, the first of the bZ series, had to stop production after a worldwide recall.
- also read: Toyota cuts production in October as supply chain problems continue
- The bZ3 sedan is expected to cost around 200,000 yuan ($28,000), 30% less than an entry-level model Tesla, Inc. TSLA model 3
- The report added that the sedan will be produced in Tianjin with a capacity of 30,000 vehicles per year.
- Price promotion: TM shares closed up 0.09% at $135.74 on Tuesday.
- Photo via company
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