Toyota Motor has unveiled a range of technologies to improve the range, performance and cost of electric vehicles (EVs) that it plans to introduce in the second half of the decade.
The Japanese automaker, which has been criticised by some investors for being slow to roll out battery electric models, said it expects annual sales of 1.5 million EVs by 2026.
Toyota released a technology briefing, including details on new solid-state batteries, a day before its annual shareholder meeting where governance, climate lobbying and EV strategy are under scrutiny.
Here are Toyota’s key announcements:
Toyota has a number of initiatives to improve battery performance and reduce cost, and said it was ready to move from research toward production of solid-state batteries. Such batteries promise more energy density and shorter charging times than lithium-ion batteries now in use.
It aims to sell vehicles powered by solid-state batteries by 2027 or 2028.
Toyota said, without providing details, it had achieved a “technological breakthrough” overcoming problems previously identified with solid-state batteries’ durability.
It also said it would have a more energy-dense battery available for an EV in 2026 that has a driving range of 1,000 km on a single charge, a charge time of 20 minutes or less, and cost reduction of 20% versus its current EV, the bZ4X.
In addition, Toyota said it would produce a range of lower-cost lithium-iron phosphate (LFP) batteries for use in 2026 or 2027. It said it was targeting a 20% increase in range and a 40% reduction in cost compared to the bZ4X.