Toyota invests $13.6 billion in car batteries

Toyota is investing about $13.6 billion in battery technology over the next decade, including a $9 billion investment in production, as it tries to power its lineup of cars, according to the company. mentioned The Wall Street Journal.

It is said to be planning to have 10 battery production lines by 2025, and has increased to about 70 across an undisclosed number of factories around the world.

It can produce up to 200 gigawatts of batteries, the company’s chief technology officer, Masahiko Maeda, announced in Press Conference.

The company’s commitments reflect similar investments that others have planned across the auto industry. Volkswagen plans to produce about 240 gigawatts of batteries in Europe alone by 2030.

Ford said it plans to produce 240 GW globally by then, including 140 GW in North America.

This represents a major investment for Toyota. He points out that the world’s largest automaker by size is getting more serious about electrifying its group.

Although the company was an early pioneer in hybrid cars with the Prius. It reportedly looked at hybrid cars as a temporary measure until hydrogen fuel cells became competitive.

The company is now playing catch-up with the likes of Nissan. She reportedly lobbied to slow the US transition to electric vehicles.

Read also: Toyota discontinues self-driving e-Palette

Toyota invests $13.6 billion in car batteries

The company announced Earlier this year An electric vehicle strategy that sees the launch of 70 electric vehicles globally by 2025. Including 15 fully electric vehicles as well as hybrid and hydrogen-powered models.

As part of the strategy, it has announced the concept of the BZ4X electric SUV, which it hopes to launch in China and Japan from later this year.

By 2030, the company wants about 80 percent of its cars to have some type of battery power. As the Wall Street Journal notes.

The company hopes its investment will help reduce the cost of batteries by 30 percent. Thanks to improvements in materials and cell designs.

On the car side, it also aims to develop cars that use batteries more efficiently. This reduces energy consumption by 30 percent per kilometer.

“Through this integrated development of vehicles and batteries, we aim to reduce the cost of the battery per vehicle by 50 percent,” Maeda said.

The company is also continuing its work on solid-state batteries, which could lead to denser, safer, and faster charging cells, according to the company. agency Reuters.

The company hopes to start manufacturing these batteries by the middle of the decade. But it acknowledges that there is still research to be done to improve the cost and lifespan of the technology.

Read also: Toyota pushes to slow switch to electric cars

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