Tuesday, July 16, 2024

Toyota Plans Advanced Autonomous Electric Car for Chinese Market

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Toyota is gearing up to introduce its first electric vehicle equipped with an advanced autonomous driving system akin to Tesla’s Full Self-Driving technology in the Chinese market next year, announced one of its joint ventures in China.

In collaboration with state-owned Guangzhou Automobile Group (GAC), the joint venture aims to bolster Toyota’s market presence in China by closing the technological gap with local competitors in hybrids, batteries, and intelligent vehicles.

See also: Toyota’s GAC Venture in China Adopts Momenta’s Smart Driving Solution for bZ3X

At an event in Guangzhou, GAC Toyota unveiled ambitious plans, including the launch of the Bozhi 3X SUV in 2025. This model will debut Toyota’s advanced driving assistance system, facilitating autonomous features for parking and navigation in urban traffic and highways. The initiative positions Toyota as a leader in autonomous driving technologies among foreign brands operating in China.

The development of this system is in partnership with Momenta Global, a startup specializing in autonomous driving software utilized by various automakers, including Mercedes-Benz. Additionally, GAC Toyota plans to integrate Huawei’s (HWT.UL) in-vehicle operating software, starting with an electric sedan slated for a 2025 release in China.

See also: Tesla’s Full Self-Driving (FSD) Receives Tentative Approval in China

Furthermore, GAC Toyota aims to introduce an iron phosphate lithium battery between 2026 and 2027. This innovation is projected to slash production costs for its bZ4X electric vehicle by 40%, enhancing its competitiveness in the Chinese EV market.

Despite its innovative strides, Toyota faced challenges in China, ranking fifth among all car brands in terms of sales in the first four months of this year. The Japanese automaker reported a 22% decline in sales compared to the same period in 2023, according to data from the China Association of Automobile Manufacturers.

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