Lexus Australia has announced pricing and specifications for its updated RZ electric mid-size SUV range, which is due in local showrooms in May 2026. With an enhanced driving range and more performance, the updated Lexus RZ is now more competitive in the market and that’s before you get to the price. It now starts at $84,500 plus on-road costs, which is a massive $36,559 reduction on the pre-updated car and the upper-spec RZ500e Sports Luxury has had an even larger cut from its price.

Headlining the changes to the 2026 RZ500 range is a larger 74.7kWh battery (+3kWh), which has increased its WLTP range by 16 per cent to 460km. Its AC charge rate has doubled to 22kW as well, for faster charging away from higher-output DC units, of which it can charge at up to 150kW. RZ500e models have also been given a power boost by 50kW to 280kW for a claimed 4.6-second 0-100km/h sprint time, while torque is unchanged at 537Nm.

Retuned dampers and springs, plus a reduction in noise, vibration and harshness (NVH) levels have reportedly made the RZ better to drive than before as well.

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New to the range is the RZ550e F Sport, which uses a larger 77kWh battery and a 300kW drivetrain for a slightly quicker 4.4-second 0-100km/h time, though its WLTP range has been reduced to 437km thanks to the extra performance and weight. The F Sport model also introduces sportier styling and – in an Australian first – a steering yoke instead of a steering wheel.

The Lexus RZ550e F Sport also features ‘Interactive Manual Drive’, which is a manual-like driving mode with paddle shifters, artificial sounds and a virtual tachometer to give the impression that a petrol engine lies under the bonnet. Like the Hyundai Ioniq 5 N that features a similar system, Interactive Manual Drive has been designed to engage the driver more.

Lexus Australia has also announced that a higher-performance RZ600e F Sport Performance will be made available in limited numbers later in 2026. Pricing is yet to be announced, but it will feature a 313kW drivetrain, carbon fibre roof, larger six-piston blue brake callipers, a 20mm-lower ride height, 21-inch Enkei wheels, pumped wheel arches, a vented bonnet, dual rear spoilers and unique interior trims.

The updated Lexus RZ range will enter local Lexus dealerships from May 2026.

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2026 Lexus RZ pricing (excluding on-road costs):

RZ500e Luxury$84,500 (-$36,559)
RZ500e Sports Luxury$91,000 (-$42,059)
RZ550e F Sport$105,000 (new)
RZ600e F Sport PerformanceTBA (new)

Lexus RZ500e Luxury standard features:

  • 20-inch alloy wheels
  • Dusk-sensing automatic LED exterior lighting
  • Electric tailgate
  • ‘NuLux’ synthetic leather upholstery
  • 8-way electric front seats with heating
  • Power steering wheel adjustment
  • Dual-zone automatic climate control
  • 7.0-inch digital driver’s display
  • 14.0-inch touchscreen
  • Satellite navigation
  • Wireless Apple CarPlay and Android Auto
  • Wireless phone charger
  • 10-speaker Panasonic sound system

RZ Sports Luxury model adds:

  • Two-tone alloy wheels
  • Semi-autonomous parking functionality
  • Upgraded LED headlights with adaptive high beam
  • Dimming panoramic glass roof
  • Suede upholstery
  • Ventilated front seats
  • Heated outboard rear seats
  • Heated steering wheel
  • Head-up display
  • 13-speaker Mark Levinson audio
  • Digital rear mirror

RZ F Sport model adds:

  • Black alloy wheels
  • Sportier exterior styling, including a rear spoiler
  • Yoke steering wheel
  • Manual drive mode
  • Front sports seats
  • Aluminium pedals