Toyota’s strategy is to sell EVs to the masses.
Lexus’ priority will be different.
Toyota’s not looked too good recently as they were deemed to be one of the most obstructive companies when it comes to fighting the climate crisis. Despite this, Toyota’s still on board with developing and selling EVs as demonstrated by the recently introduced bZ4X. Toyota’s strategy differs from other OEMs however.
Although it may seem obvious, the best way to help the environment when moving away from petrol-powered vehicles over to EVs is by getting them on the road. This is what will make a difference and one factor that keeps EVs out of the hands of many are big expensive batteries needed to deliver range.
Toyota has an expression that says: Nothing happens until you sell a car.” This is what Cooper Ericksen, Toyota Motor North America VP for product planning and strategy told Green Car Reports. And Toyota’s plan is to sell millions of EVs by the end of the decade.
To reach the goal, Toyota will leave range obsession to others, including premium brand Lexus which typically has more affluent customers willing to pay more for a larger battery and more range.
“Batteries are expensive, and the bigger you make the battery, the more expensive it is,” Ericksen said. “So the trick, I think long-term is not all about range, range, range; the trick is matching the range and the price point to what the consumer can afford.”
The 2023 bZ4x will offer up to 400 km (250 miles) of range, which could be considered more than people actually need. With an estimated price nearing $40,000 in the US for the base model, it is conceivable that Toyota will launch a lower-range model in the near future. This would bring pricing down closer to the $30,000 mark, a number far more attainable by the masses.