Toyota has entered the Chinese electric vehicle (EV) market with its latest model, the Bozhi 3X, priced at $20,000. The car boasts advanced features similar to those of local rivals like BYD, with over 10,000 orders received within an hour of its launch. The vehicle is equipped with a lidar, Orin X chip, and smart driving software from Momenta. This move aims to boost Toyota’s market share in the world’s largest auto market. However, export plans and profitability remain unclear due to the low pricing strategy.
Source: https://www.reuters.com/business/autos-transportation/toyota-launches-its-cheapest-smart-ev-china-aims-up-market-share-2025-03-07