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Toyota announces financing and lease option for 2012 RAV4 EV

13 September 2012

Toyota Motor Sales, USA, Inc. (TMS) announced special financing and a customer lease option for the 2012 RAV4 EV. (Earlier post.)

The RAV4 EV will go on sale the week of 24 September 2012 through select California dealers, focusing on major metropolitan markets. With a manufacturer’s suggested retail price of $49,800, RAV4 EV customers will have the option of a purchase or lease program. Special purchase financing of 1.9% APR is available for qualified customers, as well as a 36-month lease option at $599 per month with $3,499 drive off. Sales volume is planned for approximately 2,600 units through 2014.

The RAV4 EV is expected to qualify for a $2,500 rebate through the Clean Vehicle Rebate Program in California and also is eligible for a $7,500 Federal Tax Credit. The vehicle will qualify for the California High Occupancy Vehicle (HOV) lane white sticker program.

Toyota’s approved electric vehicle supplier equipment provider is Leviton. Leviton offers multiple options for charging solutions. For the shortest charge time of approximately six hours, Leviton offers a custom 240V (Level 2), 40A, 9.6 kW output charging station. The vehicle comes equipped with a 120V (Level 1) 12A charging cable for instances when the recommended 240V (Level 2) charging is not available.

The RAV4 EV is the product of a collaboration with Tesla Motors spurred by Akio Toyoda, president and chief executive officer of Toyota Motor Corporation. The RAV4 EV combines a Tesla-designed and -produced battery and electric powertrain with Toyota’s most popular SUV model.

The battery-electric RAV4 EV receives an EPA rated range of 103 miles, 78 city miles per gallon equivalent (MPGe), 74 highway MPGe and 76 combined MPGe.

September 13, 2012 in Brief | Permalink | Comments (7) | TrackBack (0)

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Comments

Over 75 mpge for a rather heavy squarish vehicle is not bad but much better could (and will) be done. Something must be done to at least double e-range between charges with better batteries and/or with improved much lighter vehicle.

The 120 V charging cable makes this a "charge-anywhere" vehicle.  Perhaps it's not the most impressive, but if it uses 300 Wh/mi it gets 4.8 miles of range per hour of charging, or close to 40 miles in an 8-hour day at the office.  It could use its full rated range every day so long as it was plugged in during the 20 hours it wasn't being driven.

The specifications are underwhelming, and the price is high for what you get.

It goes to show that converting a gasoline car to electric doesn't work. Toyota needs to start with a clean sheet of paper (blank CAD screen?).

Engineer-Poet,

I've seen more thoughtful comments from you. Are you on some drugs?

No.  Are you?

The soi-disant "skeptics" call EVs impractical because there are huge expanses without chargers.  Those same expanses are lousy with electric outlets (though not always convenient to parking).  Simply plugging in to one of those outlets wherever the vehicle is parked would take care of most charging needs even if the owner only had a charger at home... or maybe even had no charger at all.

Large HEVs are way too expensive for way too many people.

Its Tesla heritage is apparent.

The RAV-4 EV pre-dates the Tesla company.

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