With huge investments amounting to $13.5 billion, Toyota will spend on developing battery-making technologies for electric vehicles. Toyota’s investment plan extends until the year 2030.
In addition to battery manufacturing technologies, Toyota also wants to invest in the battery supply chain for its electric and hybrid vehicles. It is also known that Toyota has been focusing heavily on hybrid technology for several years now.
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One of Toyota’s aspirations is to actively reduce the cost of batteries by investing in the use of alternative materials, which it estimates will be able to bring a benefit of 30%.
One haste of Toyota, according to the Reuters agency, is to make widespread use of solid state batteries. The first samples of the new batteries that Toyota will use are expected to be seen in the bZ4X model.