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Toyota will spend $ 13.5 billion on battery development for electric vehicles by 2030



The company aims to reduce the cost of batteries by 30% or more

Toyota Motor said it plans to spend more than $ 13.5 billion to develop batteries and power systems for electric vehicles. The manufacturer expects to allocate this amount in the period until 2030 in order to take a leading position in key automotive technologies.

The world’s largest automaker, which pioneered the Prius range of hybrid gasoline-electric vehicles, plans to launch its first all-electric range next year.

Toyota, a leader in the development of batteries for electric vehicles, said it aims to reduce the cost of batteries by 30% or more by changing their composition and structure.

It is also leading the way in the development of solid-state batteries, which can make a difference because they are more power hungry, charge faster, and are less prone to fire. If successful, they will supplant the now widespread liquid-electrolyte lithium-ion batteries. Although the problem with the short lifespan of these batteries has not yet been resolved, Toyota Motor’s executives said the plan to go into series production in the middle of this decade remains in place.

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