What's the difference?
When the Lexus RZ launched in Australia just over two years ago CarsGuide questioned the Japanese luxury brand’s relatively late arrival to the EV party.
And since then, this large, premium, battery-electric, five-seat SUV has proved something of a niche player with less than 100 sold in 2024 and a similar number in prospect for 2025.
But there’s been movement at the RZ station. This comprehensively updated model features a revised powertrain, retuned suspension, tweaked AWD system and the availability of things like steer-by-wire and a tricky manual mode in the auto transmission.
And yes, Lexus claims it’s more refined than its already smooth and near-silent predecessor.
Scheduled to hit local showrooms in the first half of 2026, we were invited to take a first drive at its global launch. So, read on to see if this could be your next electrically propelled, performance luxury, family favourite.
Sometimes it really is all a matter of timing.
GWM was always going to offer up the plug-in hybrid version of its Tank 300 4X4, but for it to arrive in showrooms right now must be being looked on as some kind of blessing at GWM HQ.
Consider the circumstances: The Tank 300 Hi4-T PHEV (to give it its full name) not only saves fuel by making use of plug-in hybrid tech, but the fossil stuff it does use is petrol, not diesel with that fuel’s buck-a-litre cost penalty right now.
And with the planet on a knife’s edge waiting for the next increase in brinkmanship from those referred to as our world leaders, overseas travel has never seemed sketchier to the average Aussie. Which is when keeping it local and hitting the outback in a four-wheel drive suddenly looks really, really good. Except for the cost of fuel, that is, which is where we circle back to square one.
All of which means the GWM Tank 300 Plug-in hybrid concept could not really have come at a better time. But does the reality match the promise?
Smooth, quiet, quality sums up this new and improved Lexus RZ. But will tricky new tech like steer-by-wire and a manual mode in the F Sport's auto transmission be enough to sway more premium electric SUV buyers its way? Fold in this car’s value proposition as well as the brand’s spectacular ownership package and it just might be.
Note: CarsGuide attended this event as a guest of the manufacturer, with travel, accommodation and meals provided.
There’s a lot to like here. The GWM Tank 300 in any of its forms is a competent vehicle from the helm and backs up its off-road claims with real ability. The ride quality, in particular, is a highlight, and it’s a good size for couples or young families. Its value for money is also quite brilliant.
Add this plug-in hybrid driveline to the mix and the performance is quite astounding, while the petrol engine and EV potential have arrived at a critical point in history where such things carry more weight than ever before. It remains to be seen what happens globally and what effect that has on fuel prices, specifically the price gap between petrol and diesel. There’s also the question of what happens electronically when you dunk the Tank into Nolan’s Brook on the track to Cape York. But for now, this is a car whose time appears to have come.
But while the overall concept deserves praise, there’s still some work required in terms of the way the car drives and in its attempts at keeping its occupants safe. The calibration of both the throttle response and some of the driver aids is, frankly, in need of some final polish. And though it sounds odd, the Tank 300 would be a better thing to live with if GWM ditched the contentious driver aids and took the points hit on its ANCAP rating. Even better would be to stick with the tech but refine it to the point where it works in the background and not as an irritant.
Not a tremendous amount of change in terms of exterior design for this update with the brand’s signature angular treatment retained including a prominent snub nose and 20-inch rims on both variants of the car.
The top-spec F Sport picks up extra aero-focused elements, particularly around the lower bumper at the front, as well as aero covers on the wheels and at the back a spoiler on the tailgate as well as a faux diffuser at the bottom of the lower bumper.
Not much has changed inside either except for a steering wheel-shaped elephant in the room in the form of a yoke that goes with the steer-by-wire function on the 550e F Sport. A significant, eyebrow-raising departure.
However, the curved instrument binnacle, central 14-inch multimedia screen as well as the design of the centre console remain unchanged.
Having said that, there are new ‘laser-patterned’ designs in the door card trims and dynamic lighting graphics in the doors, as well.
The functionality of the touch-dimmable panoramic roof has also been improved and it works beautifully.
Derivative is a strong word, but from most angles there’s a little bit of something else in the Tank 300’s exterior. We can easily see a bit of Suzuki Jimny in profile, and a dash of new Ford Bronco in the lights and grille. And if you squint there’s a blob of Jeep Wrangler in the wheel-arch extensions.
Which should mean it’s just a mash-up. Yet somehow, it isn’t, and the Tank has its own vibe.
Inside, that vibe suddenly becomes a bit overdone, and the plastic garnish above the glove box, in particular, looks like it will date pretty quickly (if it hasn't already). There's also a lot going on in here; this is a busy place and even the gear selector looks like a prop form the Star Wars franchise.
At a fraction over 4.8m long, close to 1.9m wide and a bit more than 1.6m tall, with a 2850mm wheelbase, the ZR is a sizeable machine.
There’s plenty of breathing space in the front and in terms of practicality the first thing that jumps out, or rather it doesn’t, is the lack of a conventional glove box.
But there is a large box between the front seats to take its place, with the lid (which doubles as a centre armrest) performing the Lexus party trick of being able to open towards the driver or passenger.
There are two cupholders in the centre console with a wireless charging pad ahead of them, plus decent bins in the doors for bottles and other bits and pieces. An additional tray sits under the main, flying buttress-style upper console.
For power and connectivity, there are USB-C sockets for charging and media as well as a 12-volt socket in the lower console section.
Getting into the back is easy thanks to wide-opening doors and a large entry aperture and seated behind the driver’s seat set for my 183cm position I’ve got hectares of leg- and headroom. Shoulder room is best for two full-size adults rather than three, which would be a short-journey squeeze. Three up to mid-teenage kids will be fine.
In terms of storage there are pockets on the front seatbacks, bins able to hold a large bottle in the doors and two cupholders in the fold-down centre armrest. Individual ventilation control for rear seat passengers is always welcome.
Then for power, there are two USB-C outlets and a ‘house-power’ socket underneath them. The 550e F Sport also includes heating controls for the two outer rear positions.
Lower rear axle packaging enhances boot space with a generous 522 litres on offer, expanding to 1451L with the 60/40 split-folding second row lowered. Tie-down anchors and bag hooks are a thoughtful touch and there are handy storage boxes under the flat floor, ideal for charging cables.
The standard power tailgate is nice, while a repair-inflator kit instead of a proper spare isn’t. Braked trailer towing capacity is a handy 1.5 tonnes.
While GWM is by no means the worst offender, we still reckon the Tank’s interior would be better without such a degree of reliance of touchscreens and menu-driven functionality. While it’s obvious that there’s a lot going on in the cabin, it still seems odd that important functions such as shifting from conventional hybrid mode to EV mode would require a dive through the on-screen menus when a simple switch would be faster, easier and simpler.
And even when GWM has provided switches, the end result is muddy. Take the volume controls for an example. There’s no central volume knob accessible by both front seat occupants, so you rely on the steering wheel mounted up and down buttons to change the volume. Except they’re not marked as volume controls in any specific way. Okay, if you know, you know. But if you don’t know, you’ve just missed the news headlines.
Overall, it's disappointing. And I resent the fact that GWM (or anybody else) thinks it’s okay for me to have to learn to operate a car all over again. The dashboard is also full of tiny symbols and lettering making things difficult to decipher if you normally wear glasses to read, but not to drive.
We’ll take issue with the indicator stalk, too, which has an indistinct feel when trying to discern whether you turned the indicators on for an intersection, or just tipped them on for three flashes for a lane change. And if you have accidentally gone too far and they’re still flashing away merrily after the lane change, turning them off manually is a lottery that might see you succeed, or mistakenly turn on the other side flashers.
The rest is better with proper buttons for the various off-road drive modes, diff locks and hill holder. There’s even an analogue clock for some real nostalgia. You’ll also find a single USB-A and USB-C charge port in the dash, and a pair of cupholders buried deep in the centre console which also has a lid and sliding drawer.
It’s obvious that this is a smaller vehicle than some, and the four-door layout dictates shorter doors. But that doesn’t alter the fact that the driver’s seat slides back a few centimetres every time you shut the car down. The trouble with that if you’re tall, is that the seat is now tucked back in behind the B-pillar, meaning you have to climb out and around it to exit the car. Perhaps you can switch off this slide-back function, but I didn’t have the spare hour to troll through the menus to do so. Oh, and there should be a driver’s grab handle on the A-pillar, too. There isn’t.
The rear seat is better with an adjustable backrest that provides proper comfort, and leg and knee room that hides the 300’s smaller dimensions well. There’s lots of glass and light and a pair of USB charge points. You also get a pair of rear reading lights and central vents, but no climate controls.
Even the cargo area is a decent size with the five seats in place (360 litres, up to 1520L with 60/40 rear seats lowered) but the under-floor storage space has been consumed by the hybrid battery, meaning the jack and tools and charging cable live in the cargo area and the spare tyre is bolted to the tailgate.
The single-piece tailgate is hinged at the side, and needs a fair bit of real estate to be swung open fully.
The Tank features vehicle-to-load capability, too, which means you can operate your power tools using the vehicle as the power source, and there’s a 220-volt socket in the luggage area to do just that. But when camping, too, this feature can also power induction cookers, microwaves, and all the other stuff you probably should have left at home. And if the hybrid battery runs out of charge, the Tank can run its petrol engine to act as a generator (your camping neighbours are going to love that).
The real gadget freaks out there can also download the Tank app which allows you to operate functions such as power windows, climate control, seat heaters, central locking and check your charging status all from the comfort of your smartphone. You can also use this functionality to flash the hazard lights to help spot your Tank from everybody else’s in the carpark.
Lexus says final price and specification for the new RZ will be confirmed closer to its local arrival in the first part of next year. But as a guide, the current entry-level RZ450e in Luxury spec costs around $120,000 before on-road costs. Go for the full-fat Sports Luxury and you can add $10,000 for a $130K MSRP.
Let’s take an educated guess and add a not outrageous five per cent price increase for this update which would bump the new RZ500e (to be offered in Luxury and Sports Luxury grades) past a $125K entry point and move the new RZ550e F Sport flagship close to $140K.
If that was the case, rivals will include the Audi Q8 e-tron (from $153,984), BMW iX (from $136,900), Genesis GV70 Electrified Signature ($125,858) and Polestar 3 (from $118,420).
Worth noting you could buy two examples of the Tesla Model Y Dual motor Long Range ($68,900) for the same money.
In this part of the market it’s fair to expect a healthy list of included features and the RZ doesn’t disappoint.
Aside from the performance and safety tech we’ll get to shortly, standard specification highlights include a 14-inch multimedia touchscreen, a digital instrument display, a dimmable panoramic roof, 14-colour ambient cabin lighting, 20-inch alloy rims, LED headlights, cornering lights and a 360-degree camera system.
There’s also synthetic leather trim (synthetic suede on F Sport), built-in nav, power-adjustable heated front seats, multi-zone climate control and more. Not bad.
The Tank 300 PHEV is available in two trim levels, starting with the Lux at $55,990 drive-away. That gets you 18-inch alloy wheels, roof rails and side steps and, perhaps a little surprisingly, a sunroof.
There’s also power folding mirrors, keyless entry and start, paddle shifters, adaptive cruise-control and a rear differential lock.
Inside, there are leather accents for the seats, a pair of 12.3-inch multimedia, ambient lighting, digital radio, wireless connectivity, wireless phone charging, wireless Apple CarPlay and Android Auto, automatic headlights, full LED lighting, and dual-zone climate control. That’s quite a bit of gear for the money.
But throw another four grand on the sales rep's desk, and you into the Ultra grade which adds heated, cooled and massaging front seats, eight-way power adjustment for the driver’s chair, Nappa leather inserts, underbody protection, a front differential lock and no less than 64 colour choices for the expanded ambient lighting package.
Fundamentally, then, your extra $4000 is buying the clever front seats and front diff lock, but that’s easily worth the money anyhow. That said, the entry-level variant is one of the better equipped at that price-point, so either way, you won’t be slumming it.
Both versions of the new RZ are powered by dual permanent magnet synchronous motors, one in the front, one at the back, each producing 167kW and 269Nm.
Total output is 280kW for the 500e (up from 230kW in the 450e), with a little more juice released from the motor combination for the 550e at 300kW.
A single-speed transmission sends drive to both axles and the RZ550e F Sport features ‘Interactive Manual Drive’ designed to give the sensation of manual gear shifts in a BEV. More on that in the Driving section.
The Tank’s plug-in driveline, starts with a petrol engine measuring 2.0-litres and contributing 180kW to the overall picture. But then there’s a single electric motor, sandwiched between the petrol engine and the nine-speed transmission. That means the Tank is still a mechanical four-wheel-drive platform, and when both powerplants are singing together, there’s an eye-opening 300kW and 750Nm of torque on tap.
The four-wheel-drive system operates as a rear-wheel drive on dry bitumen, and there’s the usual 4WD high range and 4WD low range. What there isn’t, is a 4WD-auto setting that allows you to use four-wheel drive in the dry on a paved road. That sounds minor, but for towing in particular, having all four wheels doing the driving is a major safety bonus.
All Tank 300s get a rear differential lock, but this version, the Ultra, also gets a locking front diff as well. Typically, the Tank also features a range of driving modes (no less than nine of them!) for the four-wheel-drive function, tailoring throttle, transmission and differential response according to the type of terrain being covered.
The Tank 300 is built the old fashioned way with a ladder-chassis upon which the body is bolted, and it still uses a live rear axle, too. But the front suspension is independent and the GWM uses coil springs rather than old-school leaf springs for much better ride quality.
The RZ500e and 550e are fitted with a 77kWh lithium-ion battery delivering a claimed (WLTP) range of 450 and 456km, respectively.
Claimed 10-80 per cent charge time, using its full 150kW DC fast-charge capacity, is 30 minutes or a handy three and half hours at maximum 22kW AC capacity.
Energy consumption on the combined (urban/extra-urban) cycle is 18.2kWh/100km (WLTP) for the RZ500e and 18.4 for the 550e.
Over several hundred kilometres of B-road and freeway running as well as pottering through slow-speed villages on the launch we saw an average of 19.3kWh/100km in the 500e and 20.1 in the 550e F Sport, which is pretty handy.
And the (very) good news is two AC charging cables, installation of a home charger and three years’ complimentary charging across the Chargefox network is included. Nice!
The headline number here is GWM’s official fuel consumption number of just 1.9 litres per 100km. Or it would be if it had anything to do with the real world. As it is, nobody is going to achieve that, and our mix of urban running netted an average of about 11.0 litres per 100km, with that dropping to 8.5 litres per 100km in country conditions.
The truth is, your consumption in this vehicle can go from zero to, say, 12 litres per 100km depending on how and where you drive and how much battery charge you have available.
Speaking of charging, the Tank 300 can use a commercial fast charger to absorb voltage at a rate of 50kW. At that rate, it can go from 30 to 80 per cent charged in about 24 minutes. A wall box (GWM offers one as a factory option) can take the 37.1kWh battery from 15 per cent to fully charged in 6.5 hours. And, of course, you can also charge the Tank from a domestic wall socket in a claimed 14.4 hours. We managed to add about 6km worth of charge per hour on such an outlet during our time with the car.
As far as range goes, GWM reckons there’s 115km (NEDC) of EV-only range, while starting a journey with a fully charged battery and a full 70-litre fuel tank should see you covering somewhere between 900 and 950km between top ups.
It’s a hefty machine at 2.1 tonnes, but Lexus says the RZ550e F Sport will accelerate from 0-100km/h in 4.4 seconds, with the 500e only marginally slower at 4.6sec.
In straight-line acceleration Lexus says front to rear power distribution varies between 60:40 to 100 per cent rear to suppress pitching and “produce a more direct acceleration feel”.
And the RZ is indeed quick. Apply your right foot at just about any speed and the car rockets ahead with satisfying enthusiasm.
The F Sport’s ‘manual’ mode allows you to shift through eight virtual ‘ratios’. Press the ‘M’ button on the console and bingo, you have slim steering wheel-mounted paddles to control them.
At anything above a light accelerator application you’ll feel a jolt on upshifts, but it’s rather unpleasant. Sure, you want some sense of a gear change, but you feel it in your core. Check out the video review to see how much it can shake you around.
A synthetic soundtrack Lexus refers to as the “BEV Sound”, vaguely echoing an internal combustion engine, is fed through the F- Sport’s audio system and it feels thin and brittle to our ears. Again, check out the audio sample in our video review to see if you agree.
You’ll hear the ‘revs’ rising on up and downshifts but there’s no physical accompaniment with the latter as far as we could sense.
Suspension is strut front with double wishbones at the rear and it’s been given a thorough revision in terms of dampers, springs and bushings in both the 500e and 550e F Sport, with the latter copping some additional fine-tuning in each of those areas.
We sampled 500e and 550e F Sport versions of the RZ on the launch drive in Southern Portugal, covering mostly Aussie-compliant roads with lots of bumps and ruts to deal with. And despite its hefty kerb weight the car copes with these imperfections well.
There’s also been some extra attention paid to body rigidity in this updated RZ, specifically reinforcement of upper sections of the nose and around the boot to keep the car more torsionally stiff.
In cornering the drive distribution ratio is between 80:20 front to rear to RWD-only, according to vehicle speed and steering angle, and the car feels composed and predictable.
The F Sport features the steer-by-wire system, using a yoke rather than a conventional steering wheel and the ratio is such that all you have to do is turn the wheel slightly to generate a response.
It’s smooth and progressive but quick at the same time. You soon become used to it.
While it's unusual to see a small yoke in your hands rather than a steering wheel, it means you have an uninterrupted view through to the instruments, which is a nice side benefit.
However, much like the Infiniti Q50’s system before it, there is no mechanical link between the driver’s hands and front wheels. Steering inputs are relayed by electric signals from a torque actuator to a control actuator.
So, while Lexus says “important feedback filters through without the unpleasant vibration effects of a mechanical connection”, and that’s true, by definition there is no road feel and the wheel feels numb from that point-of-view. Worth noting the mechanically steered 500e feels much the same.
Tyres are Dunlop SP Sport Maxx (235/50 fr - 255/45 rr) which grip hard and remain relatively comfy despite their short sidewall running on 20-inch rims.
One price you pay for the steer-by-wire system’s set-up is a substantial turning circle, so be ready for that.
Braking is by ventilated discs all around, which work nicely, and when you’re not using the manual mode in F Sport the steering wheel paddles allow movement through four levels of regenerative braking.
The most aggressive setting will slow you quite markedly but not to the level of ‘single-pedal’ operation.
Additional sound insulation includes an under-seat rear floor silencer, soundproofing in the door trims as well liberal use of damping sheets, foam, silencer pads, insulators and extra seals. And the car is super-quiet, even for an EV.
In terms of miscellaneous observations, the front seats on both versions remained comfortable and supportive over long stints behind the wheel (and yoke!).
Slow speed manoeuvring is assisted by a 360-degree overhead camera view with a translucent trace of the car in the centre, as well as a high-quality reversing camera. Vision across the car and through to the back is good, anyway, but the extra tech helps in the slow speed stuff.
There’s also a sensible mix of physical dials and on-screen controls and the touchscreen menus are easy to use. Especially handy when you’re racing to the function that turns off the intensely annoying over-speed warning.
GWM claims a 0-100km/h acceleration time of just 6.3 seconds for the Tank 300 PHEV, and that’s impressive. There are two caveats here. The first is that you need at least 40 per cent battery charge on board to extract maximum thrust. And, secondly, even in those circumstances, the Tank never feels that brisk. It’s more effortless than genuinely rapid, although the torque up hills is genuinely impressive.
There’s no getting around the refinement inherent in using volts for some of the time. And when the petrol engine does chime in, it’s all but imperceptible. You’ll eventually hear the engine if you wring it right out, but even then, vibrations are minimal.
All in all, the Tank’s relatively compact dimensions work in its favour in an urban setting, and the range of camera views (including an off-road one showing you the obstacles you’re about to encounter) make parking a lot easier than it might have been. Only a high degree of distortion in the birds-eye-view camera mode takes a bit of getting used to.
On the move the ride quality is quite exceptional, and those coil springs really do make a difference. Even the usual council speed bumps don’t bother the Tank and the short wheelbase pitching we’ve seen in some similar vehicles just never emerges. Well chosen damper rates help, too, and there has been some Australian input into the way the Tank handles. It shows.
Steering, too, feels light and natural, although the almost constant fidgeting at the helm by the lane-keeping assistance program is annoying. And switching it off is not only a multi-button job, it needs to be done every time you start the vehicle.
Far and away the biggest hurdle in living with the Tank, however, is a throttle calibration that is way off the mark. Pressing the accelerator pedal initially doesn’t seem to do much at all, and then suddenly, the power comes in and you discover you’ve input too much throttle as the Tank surges away down the road, threatening to actually spin its tyres if there’s any gravel about. But not until that initial hesitation has caused the driver behind you to wonder aloud (I can lip-read) if you’re ever going to move at all. This needs to be fixed as a running change.
The all-important off-road driving experience is pretty sharp and the Tank 300 is a genuine competitor in this discipline. It’s extremely stable and capable on unsealed roads and tracks and the front and rear diff locks make it a proper adventurer’s rig.
It’s relatively demure dimensions also mean that it fits down the tracks and trails that have been created by decades of vehicles of a similar size, unlike some of the bigger new off-roaders we’re seeing that simply don’t fit in to the terrain so neatly.
Ultimately, the Tank’s stock tyres will be the limiting factor, but there are plenty of alternatives out there for a bit more off-road bite.
The RZ received a maximum five-star ANCAP assessment in 2022 scoring 80 per cent-plus results in all areas.
As you’d expect, a full suite of driver-assistance tech is onboard including auto emergency braking (AEB) with car-to-car junction, crossing and head-on functionality as well as pedestrian and cyclist detection, adaptive cruise, lane keeping assist, lane-departure warning, blind-spot monitoring, rear cross-traffic alert, driver fatigue monitoring, tyre pressure monitoring and more.
The airbag count runs to nine, including side curtains, knee bags for the driver and front passenger as well as a front centre airbag. There’s also multi-collision brake to minimise the chances of subsequent impacts after an initial crash and an auto emergency call function.
There are three top tethers for child restraints across the second row with ISOFIX anchors in the two outer positions. That’s a comprehensive safety package.
The Tank has a strong safety story to tell, especially on paper.
Regardless of what specification you buy, you’ll get seven airbags including full-length side-curtain bags and a centre airbag to reduce head injuries in a side-impact crash.
There are rear parking sensors, a range of camera angles including an overhead view, tyre-pressure monitoring, Isofix child-restraint mounts, and the usual driver aids including autonomous emergency braking, rear cross-traffic alert and braking, blind-spot monitoring, traffic-sign recognition and rear collision warning.
But away from the brochure, features such as the lane-keeping assistance and the driver-fatigue monitor need work on their calibration. GWM is by no means on its own here, but it’s a fact that some other makers do a better job of making this tech transparent and vastly less intrusive.
The original Tank 300 launched in Australia in 2022 scored five safety stars in ANCAP testing, and that rating has been carried over to this car.
The RZ is covered by Lexus Australia’s five-year/unlimited km warranty and there’s an eight-year/160,000km warranty on the drive battery, which is in line with the RZ’s key competitors.
Recommended maintenance interval is 12 months/15,000km, which is relatively brief for an EV.
Capped-price servicing is yet to be confirmed, but for reference the outgoing 450e runs to $395 for each workshop visit up to a maximum of five years/75,000km. That’s sharp pricing in this part of the market.
The RZ also qualifies its owner for ‘Platinum Electrified’ benefits under the ‘Lexus Encore’ ownership program. That means everything from access to “exclusive offers and events” to a complimentary service loan car, five years’ roadside assistance, valet parking at selected locations, airport lounge access and (heaps) more, including the charging benefits mentioned earlier. Hard to argue with that.
GWM offers a seven year/unlimited kilometre warranty on the Tank 300, as well as eight years of cover for the hybrid battery (also with no kilometre limit). There’s also seven years of roadside assistance thrown in, too.
Capped-price servicing is available for the first seven years, with the first service due at 12 months or 10,000km and subsequent services every 12 months of 15,000km after that. Prices for each service (in order) are: $320, $460, $460, $685, $685, $1075, and $370.
GWM has a network of 123 new-car dealerships able to handle servicing, and the company tells us that regional centres have not been forgotten.