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Toyota has a new EV with a starting price of $42,000

Toyota’s newest all-electric SUV, the bZ4X, finally has a price tag

SHARE Toyota has a new EV with a starting price of $42,000
The Toyota bZ4X SUV battery-electric vehicle.

Toyota shows the Toyota bZ4X SUV battery-electric vehicle. The company on Tuesday, April 12, 2022, unveiled the battery-powered bZ4X small SUV, which starts at $42,000 and can go up to 252 miles per charge.

Toyota via Associated Press

Toyota announced Tuesday its all-electric bZ4X SUV will have a starting price of $42,000. A limited all-wheel-drive version will start at $48,780.

According to The Verge, Toyota’s first EV will go on sale this spring, although the company warns that the availability will be “extremely limited.”

Details: The Japanese automaker said that the model “blends bold, modern styling with tech-laden features in an extremely capable platform,” making it a “new take on multi-purpose vehicles.”

  • The car will have an estimated range rating of up to 252 miles.
  • Over the course of five years, bZ4X owners can expect to save up to $5,000, compared to an average gas-powered car.
  • The base price doesn’t include Toyota’s “delivery, processing and handling fee of $1,215.”
  • It comes with a 6.6-kilowatt adapter that can fully charge the car in nine hours when connected to a Level 2 charger.

Yes, but: When considering EVs to buy, many take into account the tax credit of up to $7,500 per EV. Since Toyota is close to surpassing the 200,000 vehicle threshold, the company will be disqualified from any additional tax credits from the government, according to Electrek.

State of play: Fred Lambert, editor-in-chief of Electrek, wrote that even with these efforts, “Toyota is way behind the competition in terms of bringing all-electric vehicles to market.”

What’s next?: The company plans to expand to 70 types of EV models by 2025 and invest more than $70 billion in the EV market.