Toyota Teams With Chinese Tesla Rivals on New Electric Vehicles

Japanese automaker Toyota has a one-two punch for Tesla’s Model X SUV.

The electric vehicle industry is growing at a fast pace with automobile manufacturers rolling out new models and putting extreme pressure on Elon Musk’s leading EV company, Tesla  (TSLA) – Get Free Report.

Currently, Ford  (F) – Get Free Report has America’s best selling electric pickup since it launched the Ford F-150 Lightning in April 2022. However, Musk is building up anticipation among consumers for Tesla’s delivery of the Cybertruck, which he claims is set to deliver in the third quarter of 2023. Tesla is having no problems booking orders for the new Cybertruck, as the carmaker is no longer taking orders outside North America. Pricing for the Cybertruck has yet to be revealed by Musk and Tesla. But auto industry experts estimate a base price of about $40,000.

DON’T MISS: Elon Musk Reveals Delivery Date of the Cybertruck

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Tesla Gets a Head Start over Ram 1500 REV

If Musk meets his delivery deadline, Tesla will get at least a full-year jump in the electric truck market over The Netherlands-based Stellantis  (STLA) – Get Free Report and its all-electric 2025 Ram 1500 REV, its first battery electric light-duty pickup truck. Stellantis will build the Ram 1500 REV in the US and plans to deliver it in the fourth quarter of 2024.

Consumers can put their name on the preorder list on the Ram 1500 REV website for a $100 membership fee that is refundable up until the member is notified that the vehicle is available. The manufacturer’s suggested retail price is not listed on the website.

General Motors’  (GM) – Get Free Report GMC brand already sells the Hummer EV, an electric version of the iconic Hummer, and the electric version of the Chevrolet Silverado pickup is expected in 2023 to compete head on with Ford and Tesla. The young manufacturer of electric vehicles Rivian  (RIVN) – Get Free Report already markets the R1T, a pickup full of technological innovations.

New Electric Toyota Crossover, SUV Take on Tesla

Toyota Motor Corp.  (TM) – Get Free Report has made a serious challenge to Tesla in the SUV and crossover market as it on April 18 unveiled two battery electric vehicle concept models at the Auto Shanghai show that will compete with the leading EV producer’s Model X SUV. The concept models are part of Toyota’s bZ series dedicated to BEVs, which will role out 10 electric models by 2026.

A joint venture of Toyota and Shenzen, China-based BYD  (BYDDY)  rolled out the bZ Sport Crossover Concept, in partnership with FAW Toyota Motor Co. and Toyota Motor Engineering & Manufacturing China, to target younger, Gen Z consumers, Toyota said in a statement. The bZ Sport Crossover is being developed with intelligent features, such as driver assistance and automatic parking. The vehicle will be produced and sold by FAW Toyota in China.

For the older crowd, Toyota has teamed with Guangzhou, China-based Guangzhou Automobile Group, GAC Toyota Motor Co., Ltd., and TMEC, to produce the bZ FlexSpace Concept, family-oriented SUV-type BEV, focusing on utility. The concept model creates a space that families can use safely, comfortably, and freely with peace of mind. It offers a large cabin space, ease of use, advanced safety, a reliable cruising range, as well as various intelligent functions, the statement said. GAC Toyota Motor will produce and sell the vehicle in China.

Toyota said the two new models will be launched in the China market in 2024, but did not indicate when the vehicles might make their way across the Pacific to the US. No suggested manufacturer’s retail price was listed either.

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