Toyota announces battery and EV innovations. Toyota Motor (7203.T) will use high-performance, solid-state batteries, and other technologies to increase electric car range, performance, and cost.
The Japanese carmaker plans to launch next-generation batteries in 2026 to attract customers with longer driving ranges and faster charging periods.
2027–2028, it plans to commercialize a mass-production process for solid-state batteries.
The revelation, which came a day before Toyota’s annual shareholder’s meeting when strategy and governance will be scrutinized, was the automaker’s biggest exposure of its strategy to compete in the fast-growing EV market, where it has lagged rivals.
Toyota stock rose 4.45% to 2,161 yen Tuesday.
The carmaker promised a 1,000-km (621-mile) EV with a more efficient lithium-ion battery. The world’s best-selling EV, the Tesla (TSLA.O) Model Y, has a U.S.-tested range of 530 km.
Toyota did not divulge costs, manufacturing location, or investment for its new long-range EV or next-generation solid-state batteries.
“What we want to achieve is to change the future with BEVs,” Takero Kato, head of the new Toyota EV business BEV Factory, said in a Tuesday YouTube video.
“We will launch the next-generation battery EVs globally and as a full lineup on the market from 2026,” Kato added.
Toyota revealed further cost-cutting solutions for its EVs and batteries.
The manufacturer adopted Tesla’s “self-propelling” assembly line and Giga casting to decrease production costs.
Kato claimed BEV Factory, founded in May, will build around 1.7 million vehicles by 2030, half of Toyota’s 3.5 million EVs.
For the first time, the carmaker sold 8,584 EVs, including Lexus models, in April, accounting for more than 1% of its global sales.
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