New Toyota EV takes on BYD

Top automaker has bumper sales month

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Japanese carmakers have been losing market share in China for years as they struggled to roll out the kinds of affordable, technology-centric electric models popular with local drivers. Toyota Motor Corp is trying to flip the script.

The world's biggest carmaker notched another bumper month of sales in August, putting it on track for its first annual growth in China in four years. Toyota has been winning over customers with a two-pronged approach that sees it produce locally made new-energy vehicles at attractive price points, as well as maintaining a lineup of hybrids that have tapped into growing demand for alternatives to fully electric cars.

Japan's legacy brands have been slow to respond to the rapid growth in demand for electric cars, and their lack of offerings opened the door for Chinese manufacturers like BYD Co, which dominates the market with its advanced software-laden models. That prompted Toyota to rethink its playbook and the launch of the bZ3X — a fully-electric compact crossover that costs about $15,000 (about 486,000 baht) — has quickly proved popular.