Japan's Toyota announces battery electric vehicle initiatives

By AP News

Share:

In this article

  • Loading...
  • Want to see what you should be buying? Check out our top picks.

Toyota says it plans to make an all solid-state battery as part of ambitious plans for battery electric vehicles, amid mounting criticism Japan’s top automaker needs to do more to fight climate change

Japan Toyota

TOKYO (AP) — Toyota plans to make an all solid-state battery as part of its ambitious plans for battery electric vehicles, the company said Tuesday, amid mounting criticism Japan’s top automaker needs to do more to fight climate change.

Toyota Motor Corp. aims for a commercial solid-state battery as soon as 2027. Charging time, one of the main drawbacks of electric vehicles, will get shortened to 10 minutes or less, the company said in a statement.

“With the evolution of the vehicle’s operating system, the next-generation battery EV will also enable customization of the ‘driving feel,’ with a focus on acceleration, turning and stopping,” it said.

EV owners usually have charging stations in their homes and keep their cars plugged in overnight to recharge. That’s one of the main reasons Toyota has long insisted that hybrids are a better solution. A hybrid recharges as the car runs.

Toyota President Koji Sato has said the company must play catchup after falling behind in the EV sector. The automaker is likely to face harsh criticism on its climate change commitments at a shareholders’ meeting in Toyota city, central Japan, set for Wednesday.

In its latest announcement, Toyota said it was also working on innovating lithium-ion batteries, the battery type now in most EVs, and wants to offer new affordable options.

Toyota says it is committed to a “hydrogen society" and is continuing to work on models powered by hydrogen, including fuel cell vehicles.

Hydrogen is still expensive and usually made using fossil fuels, although it can be made using renewable energy. Toyota said it’s working with various partners to produce cleaner and cheaper hydrogen.

Toyota, which makes the Prius hybrid, Camry sedan and Lexus luxury models, is also working on second-generation biofuels. Biofuels, such as ethanol, are considered more renewable than fossil fuels though they have other drawbacks.

___

Yuri Kageyama is on Twitter https://twitter.com/yurikageyama

Share:

In this article:

Industries:
Consumer Discretionary
Information Technology
Companies:
Toyota Motor

Author: AP News

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

Originally published by Associated Press Valuethemarkets.com, Digitonic Ltd (and our owners, directors, officers, managers, employees, affiliates, agents and assigns) are not responsible for the content or accuracy of this article. The information included in this article is based solely on information provided by the company or companies mentioned above.

Sign up for Investing Intel Newsletter