Toyota will re-enter the electric car market starting in China starting in 2020

In 2014, Toyota will halt the production of the RAV4 electric car and will re-enter the battery-powered electric car market in China. Toyota President Akio Toyoda said in a statement he made in September that the company was “a little late” in the electric car segment. Competing automakers are hurrying to take up their place in the market before China’s quota enforcement in 2019 and emission restrictions begin. To benefit from the support of the Chinese government, automobiles must be produced locally. Toyota, Japan’s largest automaker, has announced that it will expand its feasibility study for the sale of the Mirai fuel cell sedan car in China to include commercial vehicles such as buses. The company will also launch C-HR and IZOA compact crossover models in China from the middle of next year. There is a flock to China Daimler announced on Friday that it will produce its first electric car in China in 2019. Volkswagen Group also announced that it will invest more than 10 billion euros ($ 12 billion) to develop a series of “new energy” cars in China with its partners in the same activity. Honda Motor also announced in September that it will release a special electric car to China in 2018, while Ford last week announced that it will invest 5 billion yuan ($ 754 million) in a country with a Chinese partner. Compact crossover models can strengthen Toyota’s grip on Nissan and Honda in China. Honda, XR-V and Vezel are preparing to shake up the leadership that Nissan has held in China since 2009, with the success of small SUV models, Japanese manufacturers also benefiting from the problems experienced by Korean competitor Hyundai Motor. Like other foreign car makers in China, Toyota also produces slightly different versions of its models for its domestic partners, enabling all partners to equally supply the most popular models. I-ZOA is presented with China FAW Group, while C-HR is another partner Guangzhou Automobile Group Co. with the sale is being prepared. Toyota has launched the C-HR model in Japan and Europe in late 2016 and in the US in April. Toyota’s sales in China in the first 10 months of this year were 1.07 million units. In the same period, Honda sold 1.16 million units and Nissan sold 1.17 million units. Nissan predicts that its 12-month sales figure will reach 1.5 million units. Last Updated: November 24, 2017

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