By Reuters | Updated: 13 June 2023
Toyota Motor said it will introduce high-performance, solid-state batteries, and other technologies to improve the range and performance and to cut costs of its electric vehicles.
The Japanese carmaker said it aims to launch next-generation batteries in 2026, seeking to win over consumers with vehicles that offer longer driving ranges and quicker charging times.
It also said it was developing a method to mass-produce solid-state batteries, which it aims to commercialise in 2027-2028.
The announcement, which came a day before Toyota’s annual shareholders meeting where strategy and governance will be under scrutiny, amounted to the fullest disclosure yet of the automaker’s strategy to compete in the fast-growing market for EVs where it has lagged rivals.
The announcement, which came a day before Toyota’s annual shareholders meeting where strategy and governance will be under scrutiny, amounted to the fullest disclosure yet of the automaker’s strategy to compete in the fast-growing market for EVs where it has lagged rivals.
The announcement, which came a day before Toyota’s annual shareholders meeting where strategy and governance will be under scrutiny, amounted to the fullest disclosure yet of the automaker’s strategy to compete in the fast-growing market for EVs where it has lagged rivals.
Toyota also detailed other technologies that it plans to deploy to reduce costs for its EVs and batteries.
The automaker pledged to use a “self-propelling” assembly line and Giga casting to cut production costs, adopting a production innovation pioneered by US EV leader Tesla.
BEV Factory, established in May, aims to produce about 1.7 million vehicles by 2030, Kato said – about half of the 3.5 million EVs Toyota aims to sell annually by that year.
In April, the automaker sold 8,584 EVs worldwide, including under its Lexus brand, accounting for more than 1 percent of its global sales in a single month for the first time.
© Thomson Reuters 2023
