Toyota to invest $ 13.5 billion in electric vehicle battery development by 2030 – FutureCar.com

author: Eric Walz

The all-electric Toyota bZ4X will debut in 2022 as the company shifts to electrification.

Japanese company Toyota Motor Corp is investing heavily in electric vehicle battery technologies. The automaker said on Tuesday it would invest up to $ 13.5 billion to develop advanced battery technologies for its future line of electrified vehicles.

Toyota aims to sell about 8 million electrified vehicles per year by 2030. This figure includes pure electric plug-in hybrids, hybrid electric vehicles and fuel cell vehicles. Of this amount, Toyoya is targeting 2 million of them to be fully electric vehicles.

Toyota’s massive investment in battery technology will make the company an industry leader. The innovations will also help reduce the costs of electric vehicle batteries, which currently cost around $ 100 per kWh to manufacture. Toyota aims to reduce the cost of its batteries by 30% or more by developing new battery materials and new cellular structures, including the use of solid-state battery technology.

“We aim to improve power consumption, which is an indicator of the amount of electricity consumed per kilometer, by 30%, starting with the Toyota bZ4X,” said Masahiko Maeda, chief technology officer of Toyota, during a press briefing.

Toyota’s bZ4X is a fully electric compact SUV and represents the backbone of the automaker for battery-powered vehicles. It will be launched in 2022.

Toyota’s continued battery development is also designed to reduce battery costs per vehicle by 50% in the second half of the 2020s. The company said it has continuously improved nickel-metal hydride and lithium-ion batteries by pulling based on their respective characteristics.

Additionally, Toyota’s bipolar nickel-metal hydride battery, announced earlier this year, will be used in a growing number of electrified vehicles.

Investments in solid-state electric vehicle batteries

Solid-state EV batteries, which lack a liquid electrolyte, could be a game-changer for the auto industry, and Toyota plans to increase its investment in the technology. These batteries offer significant improvements over conventional lithium-ion batteries in use today, including a risk of overheating or fire. They can also offer longer battery life and faster charging in 15 minutes or less.

Recent Chevrolet Bolt EV recall by General Motors as well as South Korean automaker Kia’s recall of the Niro electric crossover were both due to battery fires and show that current lithium-ion technology needs to be improved. But solid-state battery technology must also be improved to be viable.

Currently, solid-state batteries are more expensive to manufacture and tend to crack when they expand and contract during routine use, according to Toyota. To address these issues, the automaker’s chief technology officer, Masahiko Maeda, said the company will continue to develop new solid electrolyte materials.

Toyota aims to start manufacturing solid-state batteries by the mid-2020s.

In addition to its goal of commercializing solid-state batteries for electric vehicles, Toyota will continue to improve lithium-ion battery technology with the aim of improving service life, increasing energy density, reducing battery life. battery size and reduce production costs.

To support the production of millions of electric vehicles, Toyota plans to set up a supply network and production systems based on what it calls “small base units”. The company aims for a production capacity of up to 200 GWh by 2030.

Toyota’s battery partners include CATL, Panasonic, Prime Planet Energy & Solutions, and GS Yuasa.

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