More than $35,000 price cut for updated 2026 Lexus RZ as it tackles BMW iX, Genesis GV60 and incoming Volvo EX60

Lexus has released the pricing and specifications for its RZ electric SUV in Australia, ahead of its official launch next month.

The lineup starts from $84,500 (before on-road costs) for the 500e, which is substantially cheaper than the outgoing 450e variant that had a retail price of more than $120,000 before on-roads.

This is a serious price drop that brings it closer to the price of many of its key rivals in the electric SUV segment.

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It is now cheaper than the Genesis GV60, which starts from more than $100,000 in Australia, while remaining a little more expensive than the Polestar 4.

This updated RZ will also take on the incoming Volvo EX60, scheduled to launch in late 2026.

The RZ has been given a boost in power of 50kW up to 280kW as standard from its dual motor set-up, with the higher spec model offering 300kW.

The RZ lineup gets an upgraded 75kWh and 77kWh battery depending on the variant, which Lexus has said boosts charging times.

2026 Lexus RZ lineup

DC charging on the RZ from 10-80 per cent takes around 28 minutes at 150kW, while AC charging from 0-100 per cent takes 3.5 hours at 22kW.

Lexus also revealed more details about its incoming performance variant of the RZ called the 600e F Sport Performance. Pricing will be revealed closer to its launch in late 2026, but expect it to sit some way above the $100K price point.

We know it has dual electric motors, with the front motor offering 167kW and the rear motor adding 268kW to provide a total system output of 313kW.

Adding to the performance feel is the car sitting 20mm lower to give it a more poised centre of gravity.

2026 Lexus RZ 550e F Sport

On the exterior there are 21-inch matte black alloy wheels along with enhancements such as a vented hood and a two-tiered rear wing spoiler.

Other changes include a sharper front lip spoiler, rear lower bumper and lower rocker panels.

It has also been given beefed up ventilated brake disks at 400mm x 28mm, which have larger six-piston blue calipers.

2026 Lexus RZ pricing Australia

Variant	Price (before on-road costs)
500e Luxury	$84,500
500e Sports Luxury	$91,000
550e F Sport	$105,000

2026 Lexus RZ engine and efficiency

Variant	500e	500e F Sport
Set-up	Dual electric motor	Dual electric motor
Power	280kW	300kW
Battery size	75kWh	77kWh
Driving range	460km (WLTP)	437km (WLTP)
DC charging speed	N/A	N/A
Driven wheels	All-wheel drive	All-wheel drive

2026 Lexus RZ standard features

Wheel size	20-inch alloys
Central touchscreen size	14.0-inch
Digital driver display size	7.0-inch
Seat material	Synthetic leather
Satellite navigation	Yes
Wireless phone charging	Yes (x 1)
Speakers	10
Android Auto and Apple CarPlay	Wireless