First electric Lexus RZ 450e SUV arrives with a higher price than a Tesla Model Y
The first fully electric Lexus SUV in the US, the RZ 450e, is now available to pre-order. Lexus is asking drivers to “experience the difference between an electric vehicle and an electric Lexus,” but is the RZ 450e worth more than a Tesla Model Y?
Under parent company Toyota’s command, Lexus has fallen far behind in the race to introduce a fully electric luxury vehicle.
After several years of neglecting fully electric technology to focus on hybrid and fuel cell tech, Toyota finally came around, announcing its luxury Lexus brand will go fully electric with a full range of zero-emission EVs by 2030.
Lexus revealed many early-stage concepts in 2021 designed to be “symbolic” of the brand’s transformation, finally unveiling its first production model based on the Toyota BZ4x.
As such, the RZ 450e rides on the e-TNGA platform, with a 71.4 kWh battery pack that features an up-to-220-mile driving range and 313 total system horsepower. In addition, its DIRECT 4 all-wheel-drive system and new steering control enable a dynamic driving experience.
Unlike the BZ4x, the Lexus EV will include the luxury feel with an intelligent 14-inch touchscreen display, a 13-speaker sound system, heated and ventilated front seats, a wireless charger, a panoramic sunroof, and more.
The Lexus RZ 450e is available in two options – Premium or Luxury. But up until now, we have not caught wind of what the price range will be.
Lexus RZ 450e is priced higher than a Tesla Model Y
According to Lexus’ website, the Premium RZ 450e trim prices start at $59,650, while the Luxury model will run you $65,150.
The RZ 450e luxury includes added safety features, advanced park, a 10-inch head-up display, acoustic front and rear side glass, and ambient lighting. For the RZ Premium, 18- and 20-inch rims are available; 20-inch split 10-spoke alloy wheels with a dark metallic finish are available for the Luxury.
As for the exterior, the electric SUV features a typical Lexus appeal with modern EV-looking upgrades. For example, the Lexus spindle grille is replaced by a spindle body that maximizes aerodynamics.
The Lexus RZ 450e will face stiff competition, especially with more established players like Tesla offering its Model Y with 330-mile range for a starting price of $54,990.
Electrek’s Take
Lexus may have a challenging introduction to the EV market, with prices for its first electric SUV to hit the US upward of $60,000.
With the Model Y priced $5,000 lower and offering over 100 additional mile range, extensive charging network, etc., where will the Lexus fit in? Tesla has already caused several automakers to drop prices to remain competitive.
Will the RZ 450e fill the role it needs to spark Lexus’ transition to an EV-centered brand like it badly needs? It can, but it may be a tough sell at those prices.
Volvo’s electric SUVs, the C40 and XC40 Recharge, both start at $55,300 and $53,000 with more range and the brand’s impressive safety and tech features. Perhaps, more importantly, Volvo is releasing its smallest and cheapest EV this summer while many other automakers, like GM, are looking to claim a similar market.
Audi’s small Q4 e-tron electric SUV starts at $49,800, with an EPA estimated range of up to 265 miles.
With all of this, I ask again, where does the electric Lexus fit in? What do you think? Will an electric Lexus SUV sell for $60,000?
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Environment
U.S. crude oil falls below $60 a barrel to lowest since 2021 on tariff-fueled recession fears
A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025.
Pavel Mikheyev | Reuters
U.S. oil prices dropped below $60 a barrel on Sunday on fears President Donald Trump’s global tariffs would push the U.S., and maybe the world, into a recession.
Futures tied to U.S. West Texas intermediate crude fell more than 3% to $59.74 on Sunday night. The move comes after back-to-back 6% declines last week. WTI is now at the lowest since April 2021.
Worries are mounting that tariffs could lead to higher prices for businesses, which could lead to a slowdown in economic activity that would ultimately hurt demand for oil.
Oil futures, 5 years
The tariffs, which are set to take effect this week, “would likely push the U.S. and possibly global economy into recession this year,” according to JPMorgan. The firm on Thursday raised its odds of a recession this year to 60% following the tariff rollout, up from 40%.
Fueled by incentives from the Illinois EPA and the state’s largest utility company, new EV registrations nearly quadrupled the 12% first-quarter increase in EV registrations nationally – and there are no signs the state is slowing down.
Despite the dramatic slowdown of Tesla’s US deliveries, sales of electric vehicles overall have perked up in recent months, with Illinois’ EV adoption rate well above the Q1 uptick nationally. Crain’s Chicago Business reports that the number of new EVs registered across the state totaled 9,821 January through March, compared with “just” 6,535 EVs registered in the state during the same period in 2024.
Those numbers represent more than 50% growth in EV registrations – far beyond the expected 12% first-quarter increase nationally being projected by Cox Automotive. (!)
What’s going on in Illinois?
While President Trump and Elmo were running for re-election, they campaigned on the threat promise of canceling the $7,500 federal tax credit for EVs. Along with California Governor Gavin Newsom, Illinois’ Governor JB Pritzker made countermoves – launching a $4,000 rebate for new electric cars and up to $1,500 for the purchase of a new electric motorcycle.
At the same time, the state’s largest utility, ComEd, launched a $90 million EV incentive program featuring a new Point of Purchase initiative to deliver instant discounts to qualifying business and public sector customers who make the switch to electric vehicles. That program has driven a surge in Class 3-6 medium duty commercial EVs, which are eligible fro $20-30,000 in utility rebates on top of federal tax credits and other incentives (Class 1-2 EVs are eligible for up to $7,500).
We covered the launch of those incentives when the program was announced at Chicago Drives Electric last year, but the message here is simple: incentives work.
SOURCES: Chicago Business, Ray Cunningham; featured image by the author.
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The electric construction equipment experts at XCMG just released a new, 25 ton electric crawler excavator ahead of bauma 2025 – and they have their eye on the global urban construction, mine operations, and logistical material handling markets.
Powered by a high-capacity 400 kWh lithium iron phosphate battery capable of delivering up to 8 hours of continuous operation, the XE215EV electric excavator promises uninterrupted operation at a lower cost of ownership and with even less downtime than its diesel counterparts.
XCMG is delivering on part of that reduced downtime promise with the lower maintenance and easier repair needs of electric equipment, and delivering on the rest of it with lickety-quick DC fast charging that can recharge the machine’s massive battery in 1.5-2 hours … but that’s not the slick bit. The XCMG XE125EV can be powered up without leaving the job site thanks to its BYD battery swap technology.
We first covered XCMG and its battery swap technology back in January, and covered similar battery-swap tech being developed by MOOG Construction offshoot ZQUIP, as well – but while XCMG’s battery tech has been in production for several years, it’s still not widely known about in the West (even within the industry).
XCMG showed off its latest electric equipment at the December 2024 bauma China, including an updated version of its of its 85-ton autonomous electric mining truck that features a fully cab-less design – meaning there isn’t even a place for an operator to sit, let alone operate. And that’s too bad, because what operator wouldn’t want to experience an electric truck putting down 1070 hp more than 16,000 lb-ft of torque!?
Easy in, easy out
The best part? All of the company’s heavy equipment assets – from excavators to terminal tractors to dump trucks and wheel loaders – all use the same 400 kWh BYD battery packs, Milwaukee tool style. That means an equipment fleet can utilize x number of vehicles with a fraction of the total battery capacity and material needs of other asset brands. That’s not just a smart use of limited materials, it’s a smarter use of energy.
You can check out all the XE215EV’s specs at this tear sheet, and get an in-person look at the Chinese company’s latest electric excavator this week in Munich, Germany.
SOURCE | IMAGES: XCMG.
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