Toyota Motor are planning to spend $13.5 billion in batteries used for electric vehicles (EVs) and hybrid vehicles by 2030. The company wants its battery supply system to take lead in the key automotive technology over the next decade. They want to become world largest automaker in terms of volume, hybrid gasoline-electric vehicles with popular Prius that is moving rapidly to deliver its first all electric line up next year.
Toyota said that they aim to reduce the cost of its batteries by 30%, or more by working on the materials that is used and the way the cells are structured. They will invest around $13.6 billion in battery technology over the next decade. They are making $9 billion investment in production as they attempt to electrify its vehicle line up.
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This amount may be changed or might be increased to round about 70 factories around the world. They can eventually produce much as 200GWh of batteries. The company is working on solid-state batteries, and are more energy dense, the batteries that work fast and charge fast. Company is playing catch up with the Nissan and has reportedly lobbied to slow the US transition to EV.
Toyota targets 50% reduction in EVs battery costs by 2030
Toyota company aims to reduce the battery cost by 50%. It is the new electric vehicle strategy , that will see release 70 Electric cars globally in 2025. In these 15 are fully electric vehicles, hybrid and hydrogen power models. They also announced the BZ4X concept of electric SUV. Which it hopes to release in the China and Japan later this year.
The company wants around 80% of the cars that included some kind of battery power by the year 2030. They are hoping to improve their development so that they can reduce the cost of the battery by 50%. They aiming to develop the cars that uses the batteries more efficiently.