Toyota teams with Suzuki and Daihatsu to build EV commercial van

Japanese automakers Toyota Motor (NYSE:), Suzuki Motor Corp ADR (OTC:), and Daihatsu (TYO:)revealed Wednesday plans to unveil a prototype mini-commercial van electric vehicle equipped with a jointly developed BEV system at a carbon neutrality event scheduled for May 18 through the 21st.

By leveraging the expertise of Suzuki and Daihatsu in crafting small-sized vehicles and integrating it with Toyota’s advanced electrification technology, the three automakers successfully collaborated to create a battery electric vehicle system specifically tailored for mini-commercial vehicles.

Development is currently underway on the new commercial EV models with the “aim of creating a vehicle that can fully meet the needs of customers in the delivery industry.”

Each of the automakers will release their own branded version during fiscal 2023. The cruising range per charge for the vehicle is expected to be approximately 124 miles.

Shares of TM are up 0.66% in afternoon trading on Wednesday.