Hotai Motor, Toyota’s distributor in Taiwan, cut the price of its bZ4X electric SUV by NT$390,000 ($12,300) to NT$1.28 million ($40,300), a 23% reduction that positions the vehicle squarely against Tesla’s Model Y. The company unveiled the revamped model on October 27.
The move comes as Taiwan’s automotive market faces uncertainty over potential U.S. import tariffs, with Tesla dominating the island’s EV segment. Hotai’s timing appears deliberate: the company secured 300 pre-orders at NT$1.36 million before announcing an even steeper discount to the final retail price.
Wang Shih-hao, head of Hotai’s Toyota division, stated the company aims to sell 4,000 units of the bZ4X in its first year and expand its overall EV market share from less than 1% to 10%. The distributor said it has backing from Toyota headquarters to maintain competitive pricing regardless of competitor actions.
Taiwan’s EV market totaled approximately 32,000 units this year, representing 7.6% of total vehicle sales. The figure is expected to reach 40,000 units next year, a 20% increase, according to Hotai projections.
The refreshed bZ4X features 743 kilometers of range and 227 horsepower. Early buyers receive unlimited charging promotions. Hotai positions the vehicle against Tesla’s Model Y and domestic automaker Luxgen’s n7 model.
Electrified vehicles—including hybrids, plug-in hybrids, and pure electric models—currently account for 37% of Hotai’s total sales. The company expects this proportion to exceed 50% next year following the bZ4X launch.
