Toyota's Latest Vehicle: An All-Electric SUV [VIDEO]

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In the market for a new SUV and live in California?

Toyota announced the launch of an all-electric SUV at the 26th annual Electric Vehicle Symposium in Los Angeles on Monday. It's basically the RAV-4 in appearance, but runs on battery power with a six-hour charge time and a 100-mile driving distance.

"It's all about blending the best of two worlds," Toyota Motor Sales Executive Bob Carter told Phys.org. "The all-new RAV4 EV marries the efficiency of an EV with the versatility of a small SUV -- in fact, it is the only all-electric SUV on the market."

This actually isn't the first RAV-4 EV the Prius maker has put on the market. The company released a RAV-4 EV from 1997-2003, but now the EV market seems primed for more vehicles and Toyota's latest version takes electric to a new level.

This latest EV can reach a top speed of 100 m.p.h. and will be priced at $49,800. Toyota aims to sell around 2,600 of them during the next three years. The car will be for sale this summer in San Francisco, Los Angeles, Orange County and San Diego.

Carter also told Phys.org that the vehicle will target a niche sector of the population who are interested in green technology.

"It's designed for consumers who prioritize the environment and appreciate performance," Carter said.