Toyota launches all-electric bZ4X SUV, starting at $42,000

Toyota Motor Corp.
TM,
-0.67%
announced Tuesday the launch of its all-electric bZ4X SUV, starting at $42,000. The bZ4X line will have two grades, XLE and Limited, and will be offered in both front wheel drive (FWD) and all-wheel drive (AWD). The 2023 bZ4X XLE FWD, which starts at $42,000, has an estimated range rating of 252 million per charge, while the XLE AWD, with a price tag of $44,080, has an estimate range of up to 228 miles. Toyota’s U.S.-listed shares were indicated down a little more than 1% ahead of the open, after dropping 7.1% amid a five-day losing streak through Monday. Year to date, the stock has lost 8.5%, while shares of U.S.-based rival General Motors Co.
GM,
+2.49%
has tumbled 31.2% and the S&P 500
SPX,
-1.69%
has declined 7.4%.