Toyota bZ4X Could Compete with Tesla

Toyota finally has a car that can compete with Tesla. Despite the nasty name and mixed reviews, the bZ4X could be the most consequential EV launched this year.

Designed from scratch, Toyota's first all-battery model is now a hit in showrooms around the world. Like Tesla's Model Y, Ford's Mustang Mach E, and Hyundai's Ioniq 5, the bZ4X is a compact sports utility vehicle built on a battery-powered caster bed, or "skateboard" of batteries.

How the bZ4X  will be sold is the key to Toyota's potential to leverage more than 20 years of gas-electric hybrid experience to succeed in all-electric technologies that most people in the automotive industry expect to dominate in the future. 

Investors are also dissatisfied with Tesla's cautious EV strategy as Tesla's market value surged to a peak of $1.2 trillion at the end of last year. This is more than four times the value of Toyota at that time. Akio Toyoda, the CEO, promised to increase investment in electric vehicles and accelerate their adoption in December. By 2030, the company wants to sell 3.5 million electric vehicles.