Toyota Motor Corp. on Tuesday unveiled the first two electric SUV models it plans to mass market in China as a major auto show got underway in Shanghai showcasing the newest vehicles by the world's automakers.
China is the largest auto market on Earth, but vehicle demand has grown sluggish due to a slowdown in the Chinese economy, intensifying the race among carmakers to develop models attractive to Chinese drivers.
Toyota will begin selling the electrified C-HR and IZOA models in 2020. Executive Vice President Moritaka Yoshida said they represent the first in the Japanese automaker's plan to roll out more than 10 EV models globally by the first half of the 2020s.