Toyota Motor said on Tuesday that it expects to invest more than US $13.5 billion to develop batteries and their battery supply systems by 2030, with a view to leading this key automotive technology in the next decade. Toyota is considered to be the leader in the field of electric vehicle battery development. The company said it plans to cut battery costs by more than 30% by improving the materials and battery structure used in the battery.
Masahiko Maeda, chief technology officer of the company, said at a news conference that “Our goal is to reduce power consumption per kilometer by 30% starting with Toyota bZ4X.”
Maeda also said that Toyota’s goal of producing solid-state batteries by the mid-1920s has not changed. “We are still looking for the best materials,” he said.
