Japanese automakers are ramping up pressure on leading electric car maker Tesla, as they unveil plans for new EV models to compete directly with Elon Musk’s.
Toyota Motor Corp. (TM) – Get a free reportIn April, Tesla presented a serious challenge to the SUV and crossover market as it unveiled two battery electric vehicle models that will compete with its flagship Model X SUV. The concept models are part of Toyota’s BZ series of electric vehicles, which will represent 10 electric models by 2026.
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Toyota and BYD challenge Tesla
A joint venture between Toyota and another Tesla Shenzen competitor, China-based BYD (BYDDY), has launched the bZ Sport Crossover concept, in partnership with FAW Toyota Motor Co. and Toyota Motor Engineering & Manufacturing China, targeting younger Gen Z consumers.
The bZ Sport crossover has been developed with smart features, such as driver assistance and automatic parking. The car will be produced and sold by FAW Toyota in China.
Toyota has teamed up with China-based Guangzhou Automobile Group and GAC Toyota Motor Co. GAC Toyota Motor will produce and sell the car in China.
Toyota said the two new models will be launched in the Chinese market in 2024, but did not indicate when the vehicles might make their way across the Pacific to the United States. The manufacturer’s suggested retail price is not listed either.
Tesla and Toyota compete with Honda (Hamad Medical Corporation) – Get a free reportsaid at that 2023 HONDA WORKS BRIEFINGIn April, it plans to retool three of its plants in Marysville, East Liberty, and Ana, Ohio, for electric vehicle production, and in 2025 it will deliver its first mid-to-large electric vehicles in North America, based on the original custom EV. platform.
The three Ohio plants will become Honda’s center for electric vehicle production in North America, as it plans to produce two million electric vehicles annually by 2030 and increase production of electric vehicles and fuel cells to 100% globally by 2040, the company said at the news conference.
Honda also plans to introduce two EV models in 2024, the Honda Prologue and Acura ZDX, which are both in development with General Motors. (GM) – Get a free report. It will also develop affordable electric cars in the joint venture, which will go on sale in 2027.
In early 2024, Honda will introduce its e:NS2 and e:NP2 EVs in China and by the end of 2024, it will introduce models in China based on its e:N SUV xù unveiled in April at the Shanghai Auto Show.
In Japan, Honda will introduce a small commercial-use N-VAN model in 2024, an EV model based on the N-ONE in 2025 and two small-size EV models in 2026.
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Subaru increases production of electric cars
Subaru (Fuji) – Get a free reportLooking for some good news to report after in December it recalled more than 271,000 2019-2022 internal combustion engine Ascend vehicles because a defective heater could cause a fire when turned on. No accidents or injuries have been reported in connection with the matter, prof Subaru statement He said.
The Japanese automaker said it plans to transition away from ICE vehicles and build 400,000 electric vehicles annually by 2028, InsideEVs mentioned. Currently, Subaru has one EV model on the market to compete with Tesla’s Model Y SUV, the all-electric Solterra SUV that has a range of 222 to 228 miles on a charge and has a manufacturer’s suggested retail price of $44,995.
Subaru isn’t content with having just one EV model on the market, with CEO Atsushi Osaki recently saying the company will add a second electric assembly line in Japan to help launch four new electric crossovers by 2026 that will be marketed for sale in the US, Inside said. EVs. Subaru Yajima’s assembly line will have the capacity to build 200,000 EVs annually by 2026, and will add another line at Oizumi that will also produce 200,000 EVs annually.