2026 Lexus RZ price and specs: Electric SUV prices slashed by up to $42,000

Lexus has dramatically slashed prices of its RZ electric SUV, with even the new flagship RZ550e F Sport undercutting every member of the pre-update range.

The RZ500e Luxury is priced at $84,500 before on-road costs, down $36,559 on the RZ450e Luxury, while the RZ500e Sports Luxury is priced at $91,000 plus on-roads – a reduction of $42,059.

Those are reductions of just over 30 per cent, and follow similar cuts made to the prices of the RZ’s Toyota bZ4X and Subaru Solterra platform-mates with their latest updates. bZ4X pricing was cut by up to 15 per cent and Solterra pricing by up to nine per cent.

CarExpert can save you thousands on a new car. Click here to get a great deal.

The new RZ550e F Sport slots in atop the range, priced at $105,000 before on-road costs. It’s the only RZ to not slot in under the Luxury Car Tax threshold for fuel-efficient vehicles, with the Luxury and Sports Luxury now eligible for Fringe Benefits Tax (FBT) exemptions.

The dual-motor all-wheel drive RZ500e produces 50kW more than the outgoing RZ450e thanks to revised electric motors, bumping total power to 280kW. Torque is unchanged at 537Nm.

There’s also a larger-capacity 74.7kWh battery, up from 71.4kWh, yielding a 16 per cent increase in WLTP range to 460km. The AC charge rate has also been doubled to 22kW.

Lexus says the RZ has also received additional bracing and body rigidity measures, as well as retuned dampers and springs front and rear, plus measures aimed at reducing noise, vibration and harshness.

The new RZ550e F Sport, marking the first time Lexus has offered an F Sport version of its electric SUV here, features a 77kWh battery and a 300kW dual-motor all-wheel drive powertrain. WLTP range dips slightly to 437km.

The headline act of the new F Sport variant is a steer-by-wire system with a steering yoke.

Lexus says steer-by-wire makes “low speed manoeuvring easy while providing confident stability and precise response at higher speeds”, while the yoke “can turn from centre to full left or right lock in about 200 degrees, eliminating the need for hand-over-hand movement”.

The RZ550e F Sport also features Interactive Manual Drive, which allows drivers to use the paddles on the yoke to shift between eight simulated gears.

Artificial engine sounds and a virtual tachometer are among the means by which Lexus engineers have attempted to make the electric SUV feel like there’s a petrol engine under the bonnet.

An even sportier flagship is due later in 2026 in the shape of the RZ600e F Sport Performance, which is being referred to as a limited edition with “strictly limited local availability”.

Pricing for the RZ600e has yet to be announced, but it’ll offer a more powerful 313kW dual-motor all-wheel drive powertrain and larger six-piston blue brake calipers with ventilated 400x28mm discs.

Despite the bump in power, it has the same 4.4-second claimed 0-100km/h time as the RZ550e.

It features a more aggressive look than other RZs thanks to a 20mm reduction in ride height and the fitment of 21-inch Enkei matte-black alloy wheels, wide wheel-arch mouldings, a vented bonnet, a front lip spoiler and a two-tiered rear wing; inside it’ll also feature unique trim.

It’s all topped off with a carbon-fibre roof to reduce the electric SUV’s centre of gravity and the kerb weight.

The updated RZ will be offered in seven exterior paint colours, including new Sonic Selente and Neutrino Grey finishes. The F Sport will be offered with two-tone finishes.

The electric SUV takes on a wide range of models, including the Audi Q6 e-tron (from $99,900 before on-roads) and Cadillac Lyriq (currently priced from $95,000 drive-away).

Pricing

Drivetrains and Efficiency

Dimensions

The Lexus RZ is a large, five-seat crossover SUV.

Servicing and Warranty

Lexus Australia backs its vehicles with a five-year, unlimited-kilometre vehicle warranty and an eight-year, 160,000km battery warranty.

Service pricing for the updated RZ isn’t yet available, but the outgoing model was offered with five years of capped-price servicing with each visit costing $395.

Safety

The Lexus RZ was assessed by safety authority ANCAP in 2023, and received a five-star rating.

A full list of safety equipment isn’t yet available for the Australian-market 2026 RZ.

Standard Equipment

There are now three Lexus RZ variants, up from two, with the limited-edition RZ600e F Sport Performance to follow later in the year.

The RZ500e Luxury comes standard with the following equipment:

• 20-inch dark alloy wheels
• LED headlights
• Power tailgate
• 7.0-inch instrument cluster screen
• 14-inch touchscreen infotainment system
• Satellite navigation
• Wireless Apple CarPlay and Android Auto
• Wireless phone charger
• 10-speaker Panasonic sound system
• NuLux leatherette upholstery in Hazel or Greyscale
• Heated front seats
• 8-way power-adjustable front seats
• Power tilt and telescopic steering wheel adjustment
• Dual-zone climate control

The RZ500e Sports Luxury adds:

• 20-inch two-tone alloy wheels
• LED headlights with adaptive high-beam and dynamic auto-levelling
• Dimming panoramic roof
• Semi-autonomous parking assist
• Ultrasuede upholstery in Hazel, Greyscale or Storm
• Ventilated front seats
• Driver’s seat memory
• Heated outboard rear seats
• Heated steering wheel
• Head-up display
• ‘High-grade multi-information display’
• 13-speaker Mark Levinson sound system
• Digital rear-view mirror
• Tsuyasumi ornamentation
• ‘Dynamic multi-colour illumination’

The RZ550e F Sport adds:

• Gloss black alloy wheels
• Unique bumpers
• Rear spoiler
• Steering yoke
• Interactive Manual Drive
• Front sports seats in black and dark grey Ultrasuede
• Aluminium pedals
• ‘Micro-geometric pattern film ornamentation’

MORE: Explore the Lexus RZ showroom