Toyota Motor unveiled its most affordable electric vehicle to date in China, introducing the bZ3X sport utility vehicle priced at 110,000 yuan ($15,000) as the Japanese automaker expands its presence in the lower end of the world’s largest auto market.
The five-seat family SUV, developed by Toyota’s joint venture with GAC Group, is approximately 30% cheaper than the company’s bZ3 sedan. The cost reduction comes from using locally sourced components, including lithium iron phosphate batteries that avoid expensive materials found in standard lithium-ion cells.
The new model offers a range of 430 to 610 kilometers on a full charge and features an advanced driver assistance system developed with Chinese startup Momenta that handles lane changes, passing, and merging.
Toyota’s move comes as Japanese automakers struggle in China, with the company’s sales dropping 7% last year to 1.77 million units. Honda and Nissan experienced even steeper declines of 31% and 12% respectively.
The bZ3X enters a fiercely competitive Chinese EV market where BYD’s Yuan Plus SUV starts at 115,800 yuan, while Xpeng’s Mona M03 sedan and Changan’s Deepal S05 SUV both start just under 120,000 yuan.
Toyota plans to deepen its localization strategy in China, working more closely with Huawei and Tencent. The company will also build its first fully owned production facility in Shanghai for Lexus EVs, expected to begin operations by 2027 with an initial capacity of about 100,000 vehicles annually.
