Toyota Motors has announced the launch of its new Electric Motor, the electric SUV that will be sold globally starting next year.
The EV will be the company’s first product to offer the fully electric driving capability of a mainstream sedan.
Toyota says the car will be available in 10 markets around the world.
In the United States, the company will begin selling the EV in January 2019.
Its production will be conducted in Mexico through a partnership with the country’s sole electric car maker, Teco.
This will be followed by the EV being sold in Europe and the US in the first quarter of 2020.
With the new electric vehicle, Toyota is aiming to be the first Japanese automaker to offer its products in a fully electric form, which would help Toyota reach new customers, boost sales and attract new investors.
Teco will produce the EV at the Mexico plant.
It will be powered by a 200kW battery, which is more powerful than the 500kW Toyota is planning for the company.
Unlike the current EV, the new one will be priced at under $35,000 in the United Kingdom and under $40,000 elsewhere.
Tecno will supply the EV’s batteries to the European markets and its engines to the United Arab Emirates.
A new design will be developed to meet the needs of the car, including more efficient propulsion, fuel efficiency, and a more comfortable ride.
More details are expected in the near future.
At the launch, Toyota Motors President Tetsuya Tada said the new EV is an evolution of the company, which has a long history of developing innovative, safe, fuel-efficient vehicles.
He said the company has been working for years on the development of an electric vehicle that will offer all the safety and performance of a gas-powered car, and that the new Electric Car will be its first truly electrified product.
Toyotas latest EV will have the same electric driving capabilities as its current models, but it will also have all of the safety, security and convenience of a regular sedan.