Toyota's most recent announcement shows the Japanese automaker is finally getting serious about electric cars. The company showed off 16 new EV concepts, including five from its Lexus luxury arm. Toyota promises it will offer 30 battery electric vehicles by 2030, but so far, only one has been officially revealed. Last month, the 2022 Toyota bZ4X (an all-electric crossover) debuted with single- and dual-motor variants with up to 250 miles of range.

We won't know official US pricing until closer to the on-sale date in mid-2022, but in the United Kingdom, Toyota has already released a price tag. In the US, the bZ4X will follow Toyota's conventional trim structure with versions like XLE and Limited, but the UK model will be different with Pure, Motion, and Vision trims. It's impossible to draw a direct comparison here, but we can at least get a rough estimate.

The bZ4X Pure starts at £41,950, the equivalent of $55,455 in the US. That's significantly more than rivals like the Ford Mustang Mach-E ($42,895) and Volkswagen ID.4 ($39,995), but simply converting pound sterling to dollars is not an effective way of guessing US pricing. For example, the cheapest RAV4 offered in the UK starts at £31,945 (approximately $42,246). In the US, the RAV4 costs only $26,350 for the base LE model.

As for the other bZ4X trim levels, the mid-range Motion model costs £45,750 ($60,505) with front-wheel-drive or £48,350 ($63,943) for the all-wheel-drive dual-motor version. The Vision trim costs £47,650 ($63,014), or £50,250 ($66,453) with AWD. Toyota will also offer a Premier Edition with AWD, topping the range at £51,550 ($68,158).

With an influx of competitors coming in the form of the Kia EV6 and Hyundai Ioniq 5, Toyota will have to keep the bZ4X competitive on pricing. Hyundai recently announced the Ioniq 5 will start at $40,925. In the UK, this model costs £36,995 ($48,893). If pricing remains similar in the US, it seems like Toyota will fail to undercut Hyundai.

The electric vehicles in this range all start around the $40,000 mark in the US, and can exceed $50,000 with more motors and larger batteries. Though the bZ4X can rely on its Toyota badge for support, it will be crucial to stay within the $40,000 to $50,000 price range before factoring in the $7,500 federal tax credit. If we had to guess, the bZ4X will start in this range, but it won't beat its key rivals on price.