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Toyota Redesigns RAV4 for Multiple Terrains

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Toyota Car - Investors King
  • Toyota Redesigns RAV4 for Multiple Terrains

Toyota has redesigned its RAV4 for the 2019 edition with special features that will enable it to function in more difficult terrains than the original design.

The all-new Toyota RAV4 unveiled last week at the New York Auto Show, according to an online auto journal, MotorTrend, has become the first vehicle on the new Toyota New Global Architecture to get all-wheel drive.

RAV4 is the first compact crossover sport utility vehicle produced by Toyota Motor Corporation, which made its debut in Japan and Europe in 1994 and in North America in 1995.

The vehicle was said to have been designed for consumers wanting a vehicle that had most of the benefits of the SUVs such as increased cargo room, higher visibility and the option of full-time four-wheel drive, along with the manoeuvrability and fuel economy of a compact car.

RAV4 stands for Recreational Activity Vehicle. In most markets, the RAV4 is the only compact SUV or crossover available from Toyota. In other markets, it is the crossover counterpart of the Toyota FJ Cruiser, says Wikipedia.org.

An online auto journal, Motor1.com notes that the new vehicle is a little bit shorter than its predecessor, but the switch to the TNGA platform has improved packaging and the wheelbase is actually 1.2 inches (3cm) longer than before.

The all-new fifth-generation RAV4, says Automotive News, is the latest of the vehicle that started the popular small crossover segment that continues to grow in popularity.

It says one striking feature of the new RAV4 is the Multi Terrain Select that can be engaged for maximum traction in snowy, muddy, sandy or rocky terrain while Hill Ascent Control is standard.

With torque vectoring, the vehicle comes in two powertrains of 2.5-litre four-cylinder engine mated to an eight-speed transmission and a 2.5-litre four-cylinder hybrid engine with continuously variable transmission that improves fuel efficiency.

Automotive News also notes that with the redesigned 2019 RAV4, Toyota has been able to develop something for everyone, including fans of competing crossovers from Jeep, Volkswagen, GMC and Ford, with more angular, truck-like styling and exterior that features a few familiar design touches such as trapezoidal wheel arches that have long been a signature of Jeep’s lineup.

The Group Vice President and General Manager, Toyota Motor North America, Jack Hollis, is quoted as saying, “We’ve got a RAV4 for whatever lifestyle your’re living, out in the wilderness of within city limits, if you can do it RAV4 will empower it.

“Now for the fifth generation, RAV4 is once again at the forefront, both for our brand and for this segment. For instance, the all-new Dynamic Torque Vectoring All-Wheel Drive with Rear Driverline Disconnect, is a first for the segment and for Toyota, it doesn’t get much better than that.”

Aesthetics

According to Cnet.com, the new Toyota RAV4, particularly in Adventure trim, has a newfound aggression and masculinity in its styling that is refreshing, adding that “for the first time, maybe ever, it looks like something you’d want to try and take off-road like its larger sibling, the body-on-frame 4Runner. Its exterior dimensions are almost identical to that of the Honda CR-V, with the exception of having a slightly longer wheelbase.”

Interior

Cnet.com also states that the RAV4, now being built on Toyota’s TNGA architecture, underpins the new Camry, as it is a little roomier inside despite being slightly smaller on the outside.

The all-new fifth generation RAV4 delivers on Toyota’s promise to make adventure accessible, Trucks.com notes, recalling that at the 2017 Los Angeles Auto Show, the company showed off the FT-AC, an off-road concept meant to invoke a sense of escape but that the new RAV4 was a spitting image of that aspiration design.

It adds that the new RAV4 has the same athletic, muscular appearance but has grown in size with a wheelbase 1.2 inches longer than the previous version; wider front and rear tracks that give it a nearly half-inch wider stance; and more elbow and legroom in the rear for passengers while the seats fold at a 60/40 split making way for large adventure-enhancing equipment such as surfboards, suitcases and camping gear.

Motor1.com also reports the Hollis as giving a hint about what the future has in tow for the newly launched RAV4. For instance, while he does not rule out the idea of a seven-seat version of the crossover, it is unlikely to happen in the foreseeable future.

“I think RAV4 in its compactness holds a certain space. But I will say there is always room for growing SUV entries. So whether we decide to bring one in a seven-seater or something different, that is something that I will keep you waiting for those answers.”

He says Toyota already offers its fair share of seven-seat SUVs; so a three-row RAV4 is not exactly a high priority.

The report says for the time being, the fifth-generation compact crossover will be offered exclusively with five seats.

Hollis also hints that the new RAV4 may be further electrified beyond the already announced hybrid models scheduled to arrive in the United States early next year.

A report by prnewswire.com says RAV4 currently ranks as the number-one-selling vehicle in the Toyota lineup, as well as the best-selling non-pickup truck in the US.

“Over the years, Toyota has listened to owners and dealers and it has paid off. Over the last five years, RAV4 volume has doubled, which speaks profoundly to the segment’s attractiveness and growth, and ultimately, RAV4’s popularity,” it states.

No matter the grade, every RAV4 is a winning choice, whether it is for a city exploration, a weekend trip to the countryside, or a jaunt on the trails, it adds.

Infortainment

The new RAV4 is equipped with Entune 3.0 multimedia including Wi-Fi Connect powered by Verizon, hands-free access to Amazon Alexa, and Apple CarPlay compatibility.

The standard Entune 3.0 audio system is said to house a 7-inch touchscreen that is perched atop the centre stack. Entune 3.0 Audio Plus adds an 8-inch touchscreen and Sirius XM Radio. Entune 3.0 Premium Audio enhances the multimedia system with embedded dynamic navigation to help drivers chart their course.

Enhancing onboard multimedia features, RAV4 can be had with up to five USB ports between the front and rear rows and an optional Qi wireless charging tray positioned at the front of the centre console.

Its multimedia setup is complemented by an all-new available JBL audio system. The next-generation premium audio setup incorporates enhanced system architecture, new speaker design, and an improved tuning process. The result is an all-access pass to the most intimate music concert, all from inside the new RAV4.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Technology

EU Raises Tariff on Chinese Electric Vehicles by 35%

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Electric car

In an effort to slow down Chinese infiltration of the European market with more affordable options, the European Union has hiked tariffs on electric vehicles from China by 35% to 45% from the usual 10%.

According to people familiar with the situation, ten member states voted in support of the new tariff while Germany and four others voted against it. The remaining 12 states reportedly abstained.

Last month, the former European Central Bank President Mario Draghi warned that Chinese state-sponsored competition was a threat to the European Union and could leave the region vulnerable to coercion.

The bloc had claimed that China unfairly subsidized its industry to have an edge over EU businesses, a claim Beijing denies and has threatened retaliatory action on European dairy, brandy, pork and automobile sectors.

However, given the size of trade between the bloc and China, €739 billion or $815 billion in last year, it’s believed the two parties will continue negotiations to find an alternative to the tariffs.

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OpenAI’s Valuation Soars to $157 Billion After $6.6 Billion Funding Round

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OpenAI, the company that owns Chatgpt, has raised $6.6 billion in a new funding round to boost the company’s valuation to $157 billion as it looks to strengthen its lead in generative AI technology.

Thrive Capital led the funding round with $1.3 billion, while Microsoft invested an additional $750 million, bringing its total investment in OpenAI to $13.75 billion.

According to a source familiar with the matter, Khosla Ventures, Fidelity Management & Research Co., and Nvidia Corp., the chipmaker whose powerful processors are driving the AI boom—were also among the investors.

Apart from Elon Musk’s SpaceX and TikTok owner ByteDance Ltd, this deal ranks as one of the largest-ever private investments.

The ability of OpenAI to raise such a substantial amount despite heightened global risks demonstrates the industry’s confidence in the power of AI.

Other investors included Tiger Global Management, which contributed $350 million, and Altimeter Capital, which invested at least $250 million.

SoftBank Group Corp. and the new Abu Dhabi-based tech investment firm MGX also participated, with SoftBank’s investment totaling $500 million, according to one source who requested anonymity. Venture firm Coatue was another participant.

In a statement, the company said it plans to use the funds to advance AI research and expand its computing capacity. “AI is already personalizing learning, accelerating healthcare breakthroughs, and driving productivity,” said OpenAI Chief Financial Officer Sarah Friar. “And this is just the start.”

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Kazang Pay Launches Card Acquiring Service in Zambia

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Startup

Kazang, the prepaid value-added services (VAS) and card acquiring business within JSE-listed fintech Lesaka Technologies, has launched its Kazang Pay card acceptance solution for merchants in Zambia. Kazang Pay makes it affordable for merchants to accept card payments on the same Kazang terminal they use to sell prepaid products and services.

The Kazang Pay enabled terminal in Zambia accepts VISA debit and credit cards as well as mobile wallet payments. Payments are settled to the merchant’s Kazang wallet on the same day. It’s as easy as letting the customer tap or insert their bank card and enter their PIN on the secure scramble PIN pad.

Kazang operates around 12,000 VAS terminals in Zambia. The goal is to enable the majority to accept card payments over the next six months. Benefits to merchants include low transaction fees and no monthly terminal rental fee for those that meet a modest monthly transaction threshold as well as the opportunity to grow their business through card acceptance.

Kazang is Zambia’s largest VAS point-of-sale terminal provider, enabling mobile money payments, bank and mobile money cash in and out, bill payments, airtime, Zesco, and many other prepaid services on one platform. The addition of card acceptance makes the platform even more comprehensive for merchants and consumers alike.

The launch of Kazang Pay in Zambia follows the introduction of the solution in South Africa, where around 60,000 small and micro merchants use Kazang Pay to accept card payments.  In Zambia, there are around 3.8 million debit, credit and ATM cards in issue and 41,000 point of sale (POS) terminals in place. The value of POS transactions has grown to K 111.4 billion by 2022 from less than K 20 billion in 2018, according to the Bank of Zambia.

Says Leon de Wit, managing director at Kazang Zambia: “Zambia has made enormous strides in terms of financial inclusion, with card usage and penetration growing at a rapid pace. With Kazang Pay, merchants can now easily accept card payments on the same all-in-one terminal they already use for vending of VAS products.

“Card transactions help merchants to grow basket sizes and potentially attract more customers, and at the same time, reduce the risks and costs of handling cash. Moving towards digitalised payments will also enable merchants to track sales, manage cash flow,  and create a footprint that could make it easier for them to access loans.”

Ashley Naidoo, director of Kazang Pay in South Africa says: “Our Zambian merchants have eagerly embraced our card acquiring service as a valuable part of our one-stop solution. Following the launch of Kazang Pay in Zambia, we have seen higher VAS sales across our merchant base and much-improved merchant retention and with our card acquiring solution we now appeal to a broader merchant base.”

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