Toyota plans to actively develop the production of electric cars
Japanese automaker Toyota is investing in its electric vehicle division. The corporation has allocated $35 billion to develop a new line of electric vehicles. According to the plan, the manufacturer wants to introduce 30 battery-powered models by 2030.
In addition, Toyota intends to increase sales of electric cars to 3.5 million units per year. It should be noted that at the moment most of the sales of the electric vehicle division are hybrid models, which have a combustion engine and an electric motor with batteries. Battery-only vehicles are not yet in high demand, however, the Toyota management intends to change this trend in the near future. To this end, the corporation is increasing investments in this area, as well as in hydrogen-powered cars. In general, the manufacturer considers environmentally friendly vehicles, including hybrids, to be promising. The corporation’s primary goal is to have 100% sales on the market of Europe, the USA, Canada and China by 2030 for the Lexus luxury brand and its electric cars. For other countries of the world, such an indicator is expected by 2035.
Toyota is one of the first concerns to start producing hybrid models. However, despite this decisive step, later on the company was rather slow to switch over to the production of vehicles powered by electric traction. As a result, Toyota lagged far behind its competitors, General Motors and Ford.
In order to accelerate progress in the electric vehicle division, the Japanese automaker intends to begin producing batteries, including solid-state batteries. At the same time, analysts predict that the cost of batteries should fall by about 2 times in the next 10 years.
In 2020 Toyota began testing a solid-state battery that exceeds lithium-ion variants in its characteristics. According to a statement from the manufacturer, vehicles equipped with this type of battery will begin production by 2025. In the future, the company is considering using solid-fuel batteries for hybrid models, but for now, such an application is in question.
Now Japanese engineers are busy developing a new bZ4X electric crossover. According to the manufacturer, the vehicle will be equipped with a new battery that loses only 10% of its performance after 10 years of use, which is an excellent characteristic for this type of component.
Toyota intends to actively develop the direction of environmentally friendly vehicles in order to take a leading position in this segment. It should be noted that competition among electric car manufacturers is growing, as is demand. In addition, the governments of many countries are promoting the spread of electric-powered vehicles, which helps implement the climate strategy.