Benzinga | Oct 29, 2021 09:28AM EDT

Toyota's Discloses EV Plans: All You Need To Know

* Toyota Motor Corp (NYSE:TM) disclosed the driving range and other specifications of its bZ4X sport utility vehicle (SUV), the first in a series of EV-only models it plans to launch globally.

* Toyota aims to launch 15 battery EV (BEV) models worldwide by 2025, Reuters reports. Toyota is yet to disclose a price range or sales target for the bZ4X.

* Toyota will jointly develop and procure the core components with affiliate Subaru Corp (OTC:FUJHF) (OTC:FUJHY) to rein the high cost of producing BEVs.

* Toyota will initially build the model on a mixed line with gasoline-engine cars, both in Japan and China.

* It will be sold in Japan, North America, China, and Europe starting in mid-2022.

* The car will have front-wheel and four-wheel-drive versions, with a driving range of about 500 km (310 miles) for the latter.

* The car will have an optional roof-mounted solar panel to charge the battery.

* Toyota aims to invest $13.5 billion through 2030 on EV batteries and introduce seven bZ series models by 2025.

* Price Action: TM shares closed higher by 1.37% at $176.48 on Thursday.