Toyota’s electric sedan was developed in partnership with BYD, which provided the battery technology for this project.
Toyota has partnered with BYD, a domestic Chinese automaker, to develop an electric sedan specifically for the world’s most populous market. The product is slightly larger than the petrol Corolla, focusing on the spaciousness of the second row.
To cut costs and create a basis to reduce costs and increase competitiveness in the market, Toyota will use LFP iron phosphate battery technology of the Chinese automaker, BYD. The price is expected to be less than $31,400, which is lower than sedans positioned in the high-end segment such as Tesla Model 3, Nio ET7.
The LFP battery on Toyota’s new electric vehicle is similar to that used in Tesla models specifically for the Chinese market. Although it has a lower energy storage density than lithium-ion, it is cheaper to manufacture and has a longer service life.
The name of the new electric sedan from Toyota and its partner is unknown. The car is expected to debut at the Beijing auto show in April 2022. The commercial product entered the market that same year. Spokespersons for Toyota and BYD both declined to comment.
Pham Trung (follow Reuters)