Toyota Announces RAV4-EV Pricing and Gets Potential Buyers 'Charged Up'
3 July 1997
Toyota Announces RAV4-EV Pricing and Gets Potential Buyers 'Charged Up'
TORRANCE, Calif., July 3 -- Toyota Motor Sales, USA (TMS),
Inc., today announced that when its RAV4-EV electric vehicle goes on sale in
mid-October to fleet customers, the Manufacturer's Suggested Retail Price
(MSRP) will be $42,000. The vehicle may also be leased for $499 per month
with no mileage restrictions.
"This is the next step in a very carefully laid-out plan," said Dave
Illingworth, TMS senior vice president and general manager of the Toyota
Division. "We began our electric vehicle program with extensive in-house
testing, moved to real-world driving with test-fleet partners and are now
ready to make production vehicles available to fleet buyers. We fully believe
that this is the finest full-electric vehicle produced today."
Toyota expects that the majority of vehicles will be leased rather than
purchased. The lease period is for 36-months, with the option of making all
lease payments in one lump sum of $17,532 providing a savings of $432 over
monthly payments. Incentives and purchase assistance programs of up to $9,000
are available through many local air quality management offices and from
Federal programs.
All 1998 Toyota RAV4-EVs will include a three-year/36,000 mile basic
bumper-to-bumper warranty, a three-year/36,000 mile battery warranty, a five-
year/60,000 mile powertrain warranty, a five-year/unlimited mileage
corrosion/perforation warranty and free maintenance for the length of the
lease, or four years on vehicles purchased outright.
Sales are expected to be concentrated in California and the Northeast
United States, with production scheduled for approximately 700 units between
1998 and 2000.
With four doors and seating for five, the basic RAV4 design offers a level
of utility that other EVs are unable to match. All RAV4-EVs will be equipped
with split fold-down rear seats, dual airbags, anti-lock brakes, power-
operated mirrors, windows and door locks, heated driver and front-passenger
seats, adjustable-height front seatbelt anchors, a heated windshield, rear-
window wiper and defogger and a heat-pump type air conditioner with timer and
pre-heat/pre-cool settings. Rear-seat heaters, a heavy-duty heat-pump and
traction control will be optional in cold climates.
Addressing the biggest concern with electric vehicles - range - the RAV4-
EV uses an advanced nickel-metal hydride (NiMH) battery pack. Providing
performance unavailable from common lead-acid batteries, this Matsushita-
designed and -produced NiMH battery allows the RAV4-EV to travel at speeds up
to 79 MPH and provides the vehicle with a combined city/highway range of
approximately 120 miles per charge.
For charging, the RAV4-EV requires only a 220-volt, 40-amp outlet. The
vehicle uses a conductive charging system and carries all charging components
on-board, eliminating the need to purchase additional equipment.
With the Toyota RAV4-EV, the future of electric vehicles has arrived.
SOURCE Toyota Motor Sales, USA, Inc.
