Toyota will spend $ 13.5 billion on developing and supplying EV battery technology by 2030

Motor Corp said on Tuesday that it expects to spend more than $ 13.5 billion by 2030 on the development of batteries and their battery supply systems to lead key automotive technologies over the next decade.

The world’s largest automaker, a pioneer of hybrid gasoline-Along with the popular Prius, we are moving rapidly to realize the all-electric lineup for the first time next year.

Recognized as a leader in battery development for electric vehicles He said he aims to reduce battery costs by more than 30% by working on the materials used and the structure of the cells.

“Then, for vehicles, we aim to improve power consumption, which is an indicator of electricity usage per kilometer, by 30%. bZ4X “. Chief Technology Officer Masahiko Maeda explained the next compact SUV model.

The company is also a leading candidate for mass production of all-solid-state batteries. It has high energy density, is fast to charge, and is hard to ignite, which makes it a potential game changer for automakers. Successful development could replace liquid lithium-ion batteries.

Maeda said he is still struggling with the short service life of these cells, but Toyota’s goal of starting production of all-solid-state batteries by the mid-2020s remains unchanged.

“We are still looking for the best materials to use,” he said.

Mass production efforts have stumbled because all-solid-state batteries are expensive to manufacture and easily crack when stretched during use.

Toyota also planned to use all-solid-state batteries in the hybrid Like the Prius, it said.

Volkswagen, the world’s second-largest automaker, said Tuesday that it may need to spend more to realize the planned transformation for autonomous driving and EVs.

The German company, which plans to invest € 150 billion ($ 178 billion) in its business by 2025, has repeatedly stated that it can fund this transition based on its current cash flow.

(Only the headlines and photos in this report may have been reworked by Business Standard staff. The rest of the content is automatically generated from the syndicate feed.)

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Digital editor Toyota will spend $ 13.5 billion on developing and supplying EV battery technology by 2030

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