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Toyota Motor announced its plans to implement advanced solid-state batteries and other technologies in its electric vehicles. The company aims to enhance the range, performance, and cost-effectiveness of its EVs. Toyota intends to introduce next-generation batteries by 2026, aiming to attract consumers with longer driving ranges and faster charging capabilities.
Toyota also revealed its ongoing efforts to develop a mass production technique for solid-state batteries, with the goal of making them commercially available by 2027-2028. This announcement, made a day ahead of Toyota’s annual shareholders meeting, provides the most comprehensive insight yet into the company’s strategy to compete in the rapidly expanding electric vehicle market, where it has faced stiff competition from other automakers. Following the news, Toyota’s stock experienced a 4.45% increase, reaching 2,161 yen on Tuesday.
Toyota announced its plans to manufacture an electric vehicle (EV) equipped with a highly efficient lithium-ion battery that boasts an impressive range of 1,000 km (621 miles). According to U.S. testing standards, the long-range Tesla Model Y, which is presently the most popular EV worldwide, accomplishes about 530 km.
The Japanese automaker did not provide specific details regarding the anticipated manufacturing location or costs associated with the new long-range EV. Additionally, there was no mention of the production site for the next-generation solid-state batteries, which Toyota has indicated are in the process of being developed, nor was any information disclosed regarding the required investment.
In a video released on Toyota’s YouTube channel, Takero Kato, the president of the newly established Toyota EV unit called BEV Factory, expressed the company’s ambition to revolutionize the future with battery electric vehicles (BEVs).
Toyota’s president of the new EV unit, BEV Factory, Takero Kato, announced that the company intends to introduce the next-generation battery electric vehicles (EVs) worldwide as a complete lineup starting in 2026. Alongside this, Toyota disclosed its plans to implement various technologies aimed at reducing costs for both EVs and batteries.
To achieve cost reduction, Toyota committed to employing a “self-propelling” assembly line and adopting Giga casting, a production innovation popularized by Tesla, the leading electric vehicle manufacturer in the United States.
According to Kato, BEV Factory, which was established in May, has set a target to manufacture approximately 1.7 million vehicles by 2030. This number represents about half of the 3.5 million electric vehicles (EVs) that Toyota plans to sell annually by that year.
Toyota sold 8,584 EVs globally in April, marking an important milestone including those sold under the Lexus brand. For the first time ever, EV sales in a single month exceeded 1% of the company’s total global sales.
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