Society | Feb 28

Toyota's mass-market EV to be subscription only in Japan

Feb 28 (NHK) - Japan's Toyota Motor is due to roll out its first mass-produced EV in the middle of this year at home and abroad.

The sport utility vehicle will only be offered through a monthly subscription in Japan for the time being.

Toyota plans to lease the SUV through its fixed-rate subscription service instead of selling it.

The company says it wants to ease worries about the resale value. Electric vehicle batteries can deteriorate over time. Toyota also believes it can better recycle used batteries by keeping ownership of the vehicles.

The electric SUV will be the first among 30 EV models that Toyota plans to release worldwide by 2030.

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