Lexus is adding a less-expensive, longer-range version of its RZ electric crossover for the 2024 model year.
Called the RZ 300e, the new variant gets a single-motor front-wheel drive powertrain and 72.8-kwh CATL battery pack, versus the dual-motor all-wheel drive powertrain and 71.4-kwh pack from Prime Planet Energy (a joint venture of Panasonic and Lexus parent Toyota) in the existing RZ 450e model.
Subtracting one motor drops output from 308 hp in the RZ 450e to 201 hp. But the RZ 300e is expected to offer substantially more range than the dual-motor model. Lexus estimates 266 miles with 18-inch wheels. The RZ 450e is EPA-rated at 220 miles on 18-inch wheels, and just 196 miles on the optional 20-inch wheels.
2024 Lexus RZ
Priced at $55,150 (including a mandatory $1,150 destination charge) in base Premium trim with 18-inch wheels. The RZ 300e is also $3,500 cheaper than 2023 RZ at the base level. Lexus will also offer the Premium grade with 20-inch wheels for $56,390, while the higher Luxury grade starts at $60,880.
The same wheel options and Premium and Luxury trim levels carry over for the RZ 450e. But it gets a $200 price hike, bringing the base price to $59,850 with destination. Otherwise, changes are minimal.
This is the second model year for the RZ, which is related to the Toyota BZ4X and Subaru Solterra. While Lexus has sold the UX 300e in Europe since 2020, the RZ is the luxury brand’s first EV for the U.S.
2024 Lexus RZ
As Lexus priced the RZ, it really puts the priority on features, not range. The RZ 300e now offers a bit more of the latter, while still skipping several tech features that distinguish the global version, including steer-by-wire and a steering yoke.
Lexus aims to go all-battery-electric by 2030—quite a bit different view than parent Toyota, which still thinks 85% of its new U.S. vehicles will still have tailpipes at that point.