As it seeks to bridge the gap with Tesla and EV generation leaders, Toyota is set to unveil its first electric vehicle with a complex autonomous driving system. Toyota’s joint venture, GAC Toyota, has shown that it will launch an electric vehicle with a system similar to Tesla’s. Full Self Drive will be operating in China next year.
GAC Toyota is a 50/50 partnership between Toyota Motor and China’s Guangzhou Automobile Group (GAC).
The news was announced this week on GAC Toyota’s social media, which is looking to close the generational gap with competitors such as Tesla, XPeng, BYD, NIO and others in the region.
The Toyota joint venture will launch the Bozhi 3X SUV next year, the first electric style with autonomous driving technology. It will enable complex power assist functions such as highway driving, obstacle avoidance and parking (similar to Tesla’s FSD).
The generation arises from a new partnership with Momenta, an autonomous vehicle startup in Beijing. Toyota is among the top investors in Momenta’s 2021 Series C financing.
GAC Toyota is also collaborating with Huawei to use its generation in Toyota’s bZ3X electric sedan, according to CnEVPost. The bZ3X was revealed in October 2022 as the second electric vehicle to add to its diversity: the bZ4X.
The new generation is unique to Huawei in that Momenta and Huawei will provide software and hardware, while the three will work in combination to integrate it.
Toyota is not focused on ADAS. Se is mainly focused on generating a smart, economical and quality BEV.
If Toyota were to release a Corolla or RAV4 on the BEV front, I think it would quell a lot of complaints about its electrification plans. It would also likely push Toyota to stay the course on BEVs. But no.
Toyota also revealed plans to launch a lithium iron phosphate battery until 2027, which could reduce production prices by 40% (compared to the existing bZ4X).
After car sales fell by 22% in China in the first four months of 2024, Toyota will revamp the logo with new and more competitive technologies.
Toyota is following Tesla’s lead by making plans to open Lexus charging stations, once exclusive to Japan, to other electric vehicles. The Japanese car giant is looking to fend off the festival of cheap Chinese EV makers like BYD, which unveiled its third EV in Japan last week.
Source: Reuters, GAC Toyota
Peter Johnson covers the automotive industry’s step-by-step transformation to electric vehicles. He is an experienced investor, an enthusiast of money and electric vehicles. His enthusiasm for electric vehicles, mainly Tesla, is one of the main reasons why he pursued a career in the investment space. If he doesn’t tell you about his latest discoveries in the 10K, you can find him enjoying the outdoors or running.