Toyota plans to build ‘competitive’ local EVs in China as it looks to play catchup
As Japanese automakers fall behind in the surging Chinese EV market, Toyota looks to turn things around. Toyota announced Monday it will boost local development of tech and software in China to produce “electrified vehicles that are competitive” where EVs are taking over the market.
Toyota boosts local EV development in China
A market once dominated by foreign automakers like Toyota and Volkswagen, China is now seeing an unprecedented surge in domestically built EVs.
On top of this, price cuts from the nation’s top EV makers, like BYD and Tesla, continue putting more pressure on other automakers.
To catch up, Toyota’s new plans call for accelerating local design and development of smart cockpits to enhance the driving experience with modern interior designs and built-in AI, something buyers in China are gravitating toward.
Toyota is also working with its top suppliers, Denso and Aisin, to speed up electric powertrain development.
The move comes after a report from Reuters claimed Toyota’s joint venture in the region with China’s GAC was laying off workers last week.
Toyota also plans to significantly reduce manufacturing costs through three initiatives. These include developing a local supplier base, reviewing parts designs, and reforming production and manufacturing to regain competitiveness.
CEO of Toyota China, Tatsuro Ueda, commented on the situation, saying:
The Chinese market is growing at an unprecedented pace. Toyota will also work together as a group to reform how we work & think to survive in China. By promoting local development with IEM by TOYOTA at its core, we will attempt to develop and provide competitive products that can satisfy Chinese customers at a fast pace.
Meanwhile, the automaker is sticking to its “multi-pathway” approach, which includes EVs, PHEVs, HEV, and FCEVs.
Electric vehicle urgency reaches Japan
Newly elected CEO Koji Sato stated during an interview after taking over in April, “We need to increase our speed and efforts to firmly meet the customer expectations in the Chinese market.”
Toyota already slashed prices on its first electric SUV in the region, the bZ4X, earlier this year. On top of this, the automaker issued a recall (over 12K units) for its first electric sedan, the BYD-powered bZ3, over defective door handles.
The automaker has already revealed plans to advance new EV technologies, including Giga casting to reduce manufacturing complexity, self-propelled production lines, hypersonic rocket tech to enhance efficiency, and next-gen batteries that will boost range while cutting costs.
Toyota plans to have engineers from its three joint ventures in China, BYD, FAW, and GAC, work on a “Toyota-led development project.”
Electrek’s Take
Japanese automakers, who have been slow to adopt purely electric vehicles, are falling behind in the world’s largest EV market, and it’s starting to take its toll.
Mitsubishi was the first Japanese EV maker to fall in China, announcing plans to suspend operations in the region indefinitely earlier this month. A company memo stated, “In the past few months, management and shareholders have tried to the best of our ability, but due to market conditions and with great reluctance and regret, we must seize the opportunity to transition to new energy vehicles.”
Mitsubishi, like Toyota, cited China’s transition from ICE to electric as reasoning. Mitsubishi’s sales have fallen from a peak of 134,500 in 2019 to only 34,500 this past year.
Other Japanese automakers are also seeing sales fall in the region, including Honda, Nissan, and Mazda.
Toyota’s sales in China fell 2.8% in the first half of the year, including a 12.8% drop in June. And it’s not only happening to automakers in Japan. They are just seeing some of the most drastic impacts. Other foreign automakers are also feeling the heat in China’s booming EV market.
Volkswagen has accelerated its EV efforts in the region, partnering with Xpeng Motors (through Audi) to use its tech platform, ADAs, and connectivity software to develop two new models.
Meanwhile, China’s EV market continues to get bigger, and domestic automakers like BYD, NIO, XPeng, Li Auto, and others are gaining their share.
FTC: We use income earning auto affiliate links. More.
Blink Charging (Nasdaq: BLNK) has struck a deal with Hubject to make charging easier for EV drivers across North America.
The agreement will bring Blink into Hubject’s intercharge eRoaming platform as a charge point operator. That means electric mobility service providers (eMSPs) and their customers in the US, Canada, and Mexico will soon have access to Blink’s charging stations through their existing apps. In turn, Blink drivers will gain better access to stations connected through Hubject’s network.
Hubject, which already connects more than 1 million charging points and 2,750 partners worldwide, expects the integration to strengthen its North American presence by adding Blink’s wide-ranging network of chargers, from Level 2 workplace stations to DC fast charging. Blink, meanwhile, anticipates more customers will plug in, thanks to Hubject’s reach.
“Our collaboration with Blink marks an important step in expanding our North American intercharge network,” said Trishan Peruma, CEO of Hubject North America. “By integrating Blink’s network into our eRoaming platform, we aim to help reduce barriers that have historically complicated EV charging and to support the continued growth of EV adoption across the United States, Canada, and Mexico.”
Blink Charging’s president and CEO Mike Battaglia added, “Connecting the Blink Network to Hubject’s platform will allow more drivers to benefit from interoperable charging while traveling.”
The integration will use the industry-standard OCPI protocol to keep billing and communication between networks secure and reliable. Deployment is planned in phases throughout 2025, with full integration targeted for the end of the year.
Read more: Blink just made it a lot easier to find its charging stations
The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
FTC: We use income earning auto affiliate links. More.
Hyundai wants to make the electric sports car for everyone. Not just those who can afford it. The new Hyundai IONIQ 5 N Essentials trim was launched in Korea on Monday, offering a lower price tag but the same thrilling drive.
Hyundai launches new IONIQ 5 N Essentials in Korea
The IONIQ 5 N is Hyundai’s first EV sports car under the IONIQ series. Initially launched in 2023, the IONIQ 5 N marked a new era for Hyundai’s high-performance N division.
Hyundai’s electric hot hatch not only looks the part with added sporty “N” branded elements scattered inside and out, but it’s also packed with fun features, advanced tech, and a host of drive modes.
Based on a dual-motor all-wheel drive (AWD) powertrain, the IONIQ 5 N delivers up to 641 horsepower when N Grin Boost is engaged. Even without it, the electric sports car packs 601 hp.
It also draws power from an 84 kWh battery, good for an EPA-estimated range of 221 miles. On the WLTP scale, it’s rated with an official range of 278 miles (448 km). The added power results in a lower range than other IONIQ 5 trims.
Although it was already one of the most affordable sports cars, EV or gas-powered, Hyundai is lowering the price even further.
After launching the new Essentials model in South Korea on Monday, Hyundai said the new trim “is characterized by lowering the barrier to entry so that customers can experience the overwhelming driving performance of the IONIQ 5 N at a reasonable price through optimized specifications.”
Hyundai focused on core convenience features while including the same high-performance motors, battery, and N-specific elements as the base model.
A Hyundai official said, “The Essential trim of the IONIQ 5 N is a new trim that offers greater cost-effectiveness to lower the barrier to entry for high-performance electric vehicles.”
The IONIQ 5 N features advanced driver assistance systems (ADAS), including highway driving assist and navigation-based smart cruise control. Hyundai has also added an exclusive new “Parking Assist Lite” package, offering safety and convenience features such as surround view monitoring and rear parking assistance.
The new Hyundai IONIQ 5 N Essentials trim starts at 74.9 million won ($54,000), including tax benefits. Hyundai said it will continue to make competitive products so more buyers can experience high-performance EVs.
Although the Essentials trim is not available in the US, the IONIQ 5 N is still more affordable than most sports cars. The 2025 Hyundai IONIQ 5 N starts at $66,200. But, with the $7,500 tax credit, which is set to expire on September 30, leases are currently listed as low as $549 per month.
Looking to test the IONIQ 5 out for yourself? You can use our link to find the Hyundai IONIQ 5 and high-performance N models near you today (trusted affiliate link).
FTC: We use income earning auto affiliate links. More.
A federal judge has cleared the way for Ørsted’s nearly complete 704-megawatt (MW) Revolution Wind offshore wind farm to restart construction, overturning a stop-work order imposed by the Trump administration.
Reagan-appointed senior US District Judge Royce C. Lamberth granted a preliminary injunction in Washington, DC, calling the government’s conduct “the height of arbitrary and capricious government conduct.” He added, “If Revolution Wind cannot meet benchmark deadlines, the entire project could collapse. There is no doubt in my mind of irreparable harm to the plaintiffs.”
Ørsted welcomed the ruling and said in a statement, “Revolution Wind will continue to seek to work collaboratively with the US Administration and other stakeholders toward a prompt resolution. Revolution Wind will resume impacted construction work as soon as possible, with safety as the top priority.”
The decision marks a significant setback for the Trump administration’s attempts to stall offshore wind development. Revolution Wind is already about 80% complete, with all turbine foundations and 45 of 65 turbines successfully installed, and expected to power 350,000 homes in Rhode Island and Connecticut. Earlier this month, the two states’ attorneys general announced they were suing the Trump administration to overturn its “baseless” decision to halt Revolution Wind. That underlying lawsuit challenging the stop-work order will continue to progress.
Oceantic Network CEO Liz Burdock said, “Today’s decision allowing work to resume on Revolution Wind is welcome news for the hundreds of skilled workers who can now return to their jobs while the legal process continues. This Made in America energy project is putting Americans to work building reliable, affordable power to communities across New England that desperately need it.”
Read more: Connecticut, Rhode Island sue Trump to save 80% complete offshore wind farm
The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
FTC: We use income earning auto affiliate links. More.
-
Sports3 years ago‘Storybook stuff’: Inside the night Bryce Harper sent the Phillies to the World Series
-
Sports1 year agoStory injured on diving stop, exits Red Sox game
-
Sports2 years agoGame 1 of WS least-watched in recorded history
-
Sports2 years agoButton battles heat exhaustion in NASCAR debut
-
Sports3 years agoMLB Rank 2023: Ranking baseball’s top 100 players
-
Sports4 years ago
Team Europe easily wins 4th straight Laver Cup
-
Environment2 years agoJapan and South Korea have a lot at stake in a free and open South China Sea
-
Environment12 months agoHere are the best electric bikes you can buy at every price level in October 2024