Toyota officially launched the bZ4X which is the first mass-produced battery electric car in Japan. Toyota bZ4X is available for subscription. Not yet sold to individuals.
Toyota says this strategy helps ease driver concerns about battery life and resale value.
By incorporating insurance, repair costs and a battery warranty into the deal, Toyota will lease the bZ4X for the equivalent of $39,000 for the first four years. Cancellations within the first 48 months will incur additional fees. Toyota targets to lease 5,000 SUVs in the current fiscal year.
At the end of last year, Toyota said it would invest 8 trillion yen in its electrification strategy by 2030.
The manufacturer plans to start selling the bZ4X in other markets later this year, and pre-orders are already starting in some European countries. However, a company spokesman was quoted as saying by Reuters that Toyota had not yet decided when it would start selling the car in general in Japan.
Hybrid models are currently more popular than pure electric vehicles in Japan. However, new eco-friendly cars account for about 1 percent of the total motor vehicle market in Japan. The trend of electric vehicle sales in Japan is currently growing significantly, making a number of models such as Tesla starting to be seen passing by on the streets of Tokyo.
