Toyota's luxury Lexus brand plans battery EV launch in 2020
Reuters
Published Oct 23, 2019 01:50AM ET
Toyota's luxury Lexus brand plans battery EV launch in 2020
TOKYO (Reuters) - Toyota Motor's (T:7203) Lexus will launch its first all-battery electric vehicle next year, as the luxury brand races to market a battery-operated car amid growing competition to develop zero-emissions vehicles, the head of the brand said on Wednesday.
At the unveiling of a concept model of a futuristic EV hatchback ahead of the Tokyo Motor Show, he added that the goal is for sales of Lexus electric vehicles, including battery electrics and gasoline hybrids, to outpace sales of the luxury brand's gasoline vehicle models by 2025.
The Lexus model will be Toyota's first full-sized, battery operated passenger car as the Japanese automaker catches up with rivals, including Nissan Motor Co (T:7201) and Tesla Inc (O:TSLA), which have marketed battery EVs for years.
"Initially, we will release products in China, North America, and other regions where demand for 'pure' EVs is high," Lexus International President Yoshihiro Sawa told reporters, adding that the brand would announce details for the upcoming model next month.
Global automakers are expanding their vehicle offerings to include more electrified models to comply with tightening global emissions regulations, but demand for more environmentally friendly cars has been growing slowly due to their high price.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.