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| Toyota invests $13.6 billion in car batteries |
According to a Wall Street Journal report, Toyota will invest nearly $13.6 billion in battery technology over the next decade, including $9 billion in manufacturing investment to fuel its series of cars.
The company is expected to have 10 battery production lines by 2025 and has grown to about 70 in an unknown number of factories around the world.
The company's chief technology officer, Masahiko Maeda, announced at a press conference that it could produce up to 200 gigawatts of batteries.
The company's commitment reflects similar investments planned by other companies in the auto industry. Volkswagen plans to produce only about 240 gigawatts of batteries in Europe by 2030.
Ford has announced that it intends to produce 240 GW worldwide by then, 140 GW of which is in North America.
This is a big investment for Toyota. He pointed out that the largest automaker in the world is taking the electrification of its company more seriously.
Although the company was one of the first pioneers of hybrid Prius cars. The company is said to see hybrid vehicles as a temporary solution before hydrogen fuel cells become competitive.
The company is now catching up with companies like Nissan. It has reportedly campaigned to slow the transition to electric vehicles in the United States.
Toyota invests $13.6 billion in car batteries
Earlier this year, the company announced an electric vehicle strategy and is expected to launch 70 electric vehicles worldwide by 2025, including 15 fully electric vehicles, as well as hybrid and hydrogen models.
As part of his strategy, he announced the BZ4X electric utility vehicle concept, which he plans to launch in China and Japan by the end of the year.
By 2030, the company hopes 80% of its cars will have some type of battery. As The Wall Street Journal noted.
The company hopes its investment will help reduce battery costs by 30%. Due to improvements in material and battery design.
At the car level, cars that use batteries more efficiently must also be developed. This reduces energy consumption per kilometer by 30%.
“By developing this vehicle and integrated battery pack, our goal is to reduce battery costs per vehicle by 50%,” Maeda said.
According to Reuters, the company is continuing its work on solid-state batteries, which could lead to denser, safer, and faster rechargeable batteries.
The company hopes to start producing these batteries by the middle of this century. However, he acknowledged that research is still needed to improve the cost and longevity of the technology.