Abstract:
According to "Nikkei Asia" report, as global electric vehicle competition is increasingly focused on China, the world's largest auto market,
Toyota plans to take the lead in producing a next-generation electric SUV in China starting next fall.
The new model will be sold under the Lexus brand and produced at Toyota's new plant in Shanghai. The monthly production capacity will be approximately 1,000 vehicles in the first year, and will be expanded to annual production of tens of thousands of vehicles by 2028.
Toyota's Platinum 3X sold in China
The model will be manufactured using leading technologies, including integrated die-casting, which means multiple aluminum body parts are cast into a complete large component. The technology can reduce the weight of these components by up to 20% and is expected to increase vehicle range by several percentage points. This manufacturing method not only makes the body stronger, but also simplifies the assembly process and speeds up production.
For a long time, Toyota has first developed and produced models equipped with advanced technologies in Japan, and then gradually expanded the global market through sales in Japan and the United States. This new electric car will be a rare exception.
Integrated die-casting can simplify production
According to data from British research organization GlobalData, China's electric vehicle sales reached 8.57 million units last year, accounting for 60% of global electric vehicle sales, about three times that of Europe and more than 100 times that of Japan. By 2030, China's electric vehicle sales are expected to reach 11.41 million units.
Although electric vehicle sales face headwinds in Japan, Europe and the United States, the global market is expected to continue expanding in the medium to long term. China will become a key country in determining who dominates the global auto market.
This spring, Toyota halted the development of a new generation of streamlined electric coupe in Japan. The demand for electric SUVs in the Chinese market is expected to continue to grow, and with BYD launching new models such as large SUVs in June this year, market competition has further intensified.
Toyota's "multi-path" strategy requires the local development and production of corresponding models based on the needs of different regions. In markets such as Japan and the United States, the company mainly promotes hybrid and fuel vehicle businesses. In China, Toyota is turning to electric vehicles.
Toyota’s current electric vehicles in China include an economical SUV and a sedan equipped with a Huawei display. Toyota is adding high-end models such as Lexus electric vehicles this time to further expand sales.
Today, global automakers are increasingly taking the Chinese market into consideration in their research and development processes. The traditional development cycle for new models is four to five years, but Chinese electric vehicle companies can launch a new car in as little as two years.
Nissan plans to halve model development time to 26 months. Volkswagen has established partnerships with Chinese car companies and plans to launch as many as 50 models for the Chinese market by 2030.
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