Electric Rivalries
Toyota will square off with Hyundai Motor Group by launching the brand’s first electric sedan, the bZ3, in partnership with the Chinese auto industry.
According to the automobile industry on April 24, Toyota launched the bZ3, an electric vehicle, in China on April 18 in time for the opening of the Shanghai Motor Show. The bZ3 is Toyota’s first electric sedan.
The vehicle will be sold only within China. It has strong marketability such as securing a mileage of 616 km based on the China Light-Duty Vehicle Test Cycle (CLTC), and enjoyed a successful launch with more than 5,000 orders received on the first day alone.
The bZ3 is also characterized by the application of Chinese electric vehicle technology. The development of the model was not led by Toyota headquarters in Japan, but by a joint venture between FAW and Toyota in China. BYD’s electric vehicle technologies were also applied to the bZ3. BYD’s Lithium Phosphate Iron (LFP) battery was loaded and an electric motor from BYD’s subsidiary Fudi Motor was used. In other words, all core technologies related to the model’s powertrain were brought from Chinese manufacturers. Analysts say that Toyota tried to overcome its relatively poor electric vehicle technology through cooperation with Chinese companies. This means that Toyota is behind other global automakers in electric vehicle technology. The bZ4X, the first electric vehicle introduced last year with its own technology, suffered a recall due to frequently exposed defects.
By placing the bZ3 front and center, Toyota is expected to keep in check Hyundai Motor Group trying to re-enter the Chinese market with electric cars. Hyundai Motor Group announced a new leap forward in the Chinese market by putting electric cars to the fore at the Shanghai Motor Show. Starting with the EV6 this year, Kia will release at least one electric vehicle model in China every year. At the end of the year, it will produce the EV5, a semi-mid-sized sports utility vehicle (SUV), in China. Next year, it will launch the large electric SUV EV9 in China as well. It plans to build a total of six electric vehicle products in China by 2027. “Our goal is to sell 450,000 units annually in the Chinese market by 2030 and electric vehicles will account for 40 percent of them,” said Kim Kyeong-hyun, general manager of Kia’s Chinese subsidiary.