Toyota Motor Corporation recently stated that it expects to invest more than $13.5 billion by 2030 to develop batteries and their battery supply systems, with a view to leading this key automotive technology in the next decade.
According to Reuters, Toyota has taken the lead in launching the popular hybrid petrol-electric car Prius and is now taking quick action to prepare to launch its first all-electric car next year. As a leader in the field of electric vehicle battery development, Toyota stated that its goal is to reduce battery costs by more than 30% through the materials used in the research and the structure of the battery.
Masahiko Maeda, Toyota’s chief technology officer, said at a briefing: Our goal is to increase energy consumption by 30% starting with the Toyota bZ4X model. In addition, Toyota is also a leader in the mass production of solid-state batteries, which is a potential game-changer for automakers because solid-state batteries have a higher energy density, faster charging speeds and are less likely to catch fire.
If successful, they can replace liquid lithium-ion batteries. Although Toyota is still struggling with the short service life of solid-state batteries, Maeda said: We are still looking for the best materials, and the company’s goal of starting to produce solid-state batteries in the mid-2020s has not changed.
