Toyota Motor\u00a0said 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.<\/p>\n
The Japanese carmaker said it aims to launch next-generation batteries from 2026, seeking to win over consumers with vehicles that offer longer driving ranges and quicker charging times.<\/p>\n
It also said it was developing a method to mass produce\u00a0solid-state batteries, which it aims to commercialise in 2027-2028.<\/p>\n
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.<\/p>\n
Toyota stock was up 4.45% at 2,161 yen on Tuesday.<\/p>\n
The automaker said it would produce an EV with a more efficient lithium-ion battery which would have a range of 1,000 km (621 miles). By comparison, the long-range version of the Tesla\u00a0Model Y, the world’s best-selling EV, can drive for about 530 km based on US\u00a0testing standards.<\/p>\n
Toyota did not detail expected costs or place of manufacture of its new long-range EV, nor did it state where it would make the next-generation solid-state batteries it has said were moving toward development or disclose required investment.<\/p>\n
“What we want to achieve is to change the future with BEVs,” Takero Kato, president of new Toyota EV unit BEV Factory, said in a video posted on the automaker’s YouTube channel on Tuesday.<\/p>\n
“We will launch the next-generation battery EVs globally and as a full lineup on the market from 2026,” Kato said.<\/p>\n
Toyota also detailed other technologies that it plans to deploy to reduce costs for its EVs and batteries.<\/p>\n
The automaker pledged to use a “self-propelling” assembly line and Giga casting to cut production costs, adopting a production innovation pioneered by US\u00a0EV leader Tesla.<\/p>\n
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.<\/p>\n
In April, the automaker\u00a0sold 8,584 EVs worldwide, including under its Lexus brand, accounting for more than 1% of its global sales in a single month for the first time.<\/p>\n","protected":false},"excerpt":{"rendered":"
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