Toyota to Introduce Advanced EV Technologies to Enhance Performance and Range
Toyota has announced its plans to incorporate high-performance solid-state batteries and other cutting-edge technologies in future electric vehicles (EVs). The move aims to improve driving range and reduce costs, positioning the automaker to compete more effectively in the rapidly growing EV market. The disclosure of Toyota’s comprehensive technology roadmap, which encompasses advancements in battery development and factory redesign, demonstrates the company’s commitment to catching up with competitors like Tesla. The announcement precedes an annual shareholders meeting where governance and strategic decisions, including the company’s gradual shift towards battery EVs, will be closely examined. The news of Toyota’s strategic pivot has prompted a 5% increase in the company’s shares, reaching their highest level since August.
Toyota’s strategy involves the launch of next-generation lithium-ion batteries by 2026, offering longer ranges and faster charging capabilities. The company has also achieved a “technological breakthrough” addressing durability issues in solid-state batteries, paving the way for mass production and commercialization between 2027 and 2028. Solid-state batteries have the potential to store more energy compared to current liquid electrolyte batteries, addressing the crucial consumer concern of limited range. However, these batteries remain expensive and are expected to maintain high costs for the foreseeable future. To mitigate this, Toyota will also explore the use of lithium iron phosphate batteries, which offer better performance at a lower cost, as an alternative to lithium-ion batteries.
Furthermore, Toyota plans to introduce an EV with a highly efficient lithium-ion battery capable of a range of 1,000 km (621 miles), surpassing the long-range version of Tesla’s Model Y. The company also envisions an EV powered by a solid-state battery with an impressive range of 1,200 km and a remarkably short charging time of just 10 minutes. Comparatively, Tesla’s Supercharger network currently provides approximately 321 km of charge in 15 minutes. Toyota has not yet disclosed the expected costs or required investments for these ambitious plans.
To streamline production and reduce costs, Toyota is developing a dedicated EV platform and implementing a highly automated assembly line that eliminates the traditional conveyor belt system. The new assembly process, called the “self-propelling” assembly line, allows cars to drive themselves through production stages. The company also intends to adopt Giga casting, inspired by Tesla’s approach, which employs large-scale aluminum casting machines to simplify vehicle manufacturing.
Industry analysts have expressed surprise at Toyota’s move to counter Tesla’s production efficiency, highlighting the company’s determination to mount a competitive response. Toyota’s recently established BEV Factory, responsible for EV production, aims to manufacture approximately 1.7 million vehicles by 2030, contributing to Toyota’s target of selling 3.5 million EVs annually by the same year. In April, Toyota sold 8,584 EVs worldwide, including those under the Lexus brand, marking the first time the company achieved more than 1% of global sales in a single month.
While Toyota remains committed to offering a range of new-energy vehicles, including hybrids and hydrogen fuel cells, the company recognizes the increasing importance of battery EVs in the industry’s transition away from petrol-powered vehicles.
