Toyota will spend $ 13.5 billion to develop EV battery technology and supply by 2030

Toyota Motor Corp. said on Tuesday that it expects to spend more than $ 13.5 billion on the development of batteries and their battery supply systems by 2030. This is a bid to lead major automotive technologies in the next decade.

The world’s largest automaker, which pioneered hybrid petrol electric vehicles with the popular Prius, is now moving rapidly to offer its full electric vehicle lineup early next year.

Toyota, a leader in the development of batteries for electric vehicles, said it aims to reduce battery costs by more than 30% by working on the materials used and the structure of the cells.

“Then, for vehicles, starting with the Toyota bZ4X, we are aiming to improve power consumption, which is an indicator of electricity consumption per kilogram, by 30%,” said Masahiko Maeda, Chief Technology Officer, at the briefing. It states as follows. Future compact SUV model.

The company is also a leading candidate for mass production of all-solid-state batteries. All-solid-state batteries have high energy densities, fast charging, and are less likely to ignite, which can be a game changer for automakers. Successful development could replace liquid lithium-ion batteries.

Maeda said he is still struggling with the short service life of these cells, but Toyota’s goal of starting production of all-solid-state batteries by the mid-2020s remains unchanged.

“We are still looking for the best materials to use,” he said.

Mass production efforts have stumbled because all-solid-state batteries are expensive to manufacture and are prone to cracking when expanded and contracted during use.

Toyota also said it plans to use all-solid-state batteries in hybrid electric vehicles such as the Prius.

($ 1 = 109.8500 yen)

Tim Kelly