Toyota’s hot $15,000 EV in China costs nearly $50K in this overseas market

Toyota’s most affordable EV, which starts at about $15,000 in China, may not be so cheap overseas. The Toyota bZ3X is launching in new markets at a price nearly three times the cost, starting at almost $50,000.

Toyota’s $15,000 EV is launching overseas

GAC Toyota, Toyota’s joint venture, launched the bZ3X in China this March, a new electric SUV aimed at younger families.

The bZ3X is Toyota’s “first 100,000 yuan-level pure electric SUV.” With prices starting at just 109,800 yuan ($15,000), the budget EV quickly became a hit in China.

Toyota’s electric SUV was the best-selling foreign-owned EV in China last month. With 4,344 models sold, the bZ3X outsold the Volkswagen ID.3 (4,217), Nissan N7 (3,034), BMW i3 (2,605), and VW ID.4 Crozz.

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Will it achieve the same level of success overseas? At over three times the cost, it may not be easy. Toyota’s $15,000 EV has officially launched in Ethiopia, with a retail price of around 6.3 million birr, or approximately $48,000.

The bZ3X is now available at select dealers in Addis Ababa, the country’s capital, offering a range of roughly 400 km (249 miles).

Although over 60% of new passenger cars registered in Ethiopia were electric last year, EV buyers face high import taxes and other costs. A 35% customs tax, an excise tax of up to 30%, a 15% VAT, a 10% surtax, and a 3% withholding tax make electric vehicles significantly more expensive.

In China, the electric SUV is available with two battery options: 50.03 kWh and 67.92 kWh. The former offers a CLTC driving range of 430 km (267 miles), while the latter provides a range of 610 km (379 miles).

Buyers can choose from smart or non-smart driving models, which start at 109,800 yuan ($15,000) and 149,800 yuan ($20,500), respectively.

The interior is a significant upgrade from most Toyota vehicles we are accustomed to, featuring advanced new technology, including Momenta’s 5.0 smart driving system. Toyota claims the bZ3X has class-leading rear space at nearly 10 feet (3 meters) with all seats folded.

Measuring 4,645 mm in length, 1,885 mm in width, and 1,625 mm in height, Toyota’s bZ3X is about the same size as BYD’s Atto 3 SUV, sold as the Yuan Plus in China.

After opening orders in March, GAC Toyota boasted that the bZ3X was “so popular that the server crashed” as orders surpassed 10,000 in under an hour.

Would you buy Toyota’s electric SUV in the US or Europe? It would likely cost at least double, or even more. At $50,000, you could almost buy Hyundai’s new three-row IONIQ 9. Let us know what you think tf the bZ3X in the comments below.