Employees walk at the Toyota Motor Corp new plant in Apaseo El Grande in Mexico's central state of Guanajuato, Mexico February 6, 2020. REUTERS/Sergio Maldonadosaid on Tuesday it expected to spend more than $13.5 billion by 2030 to develop batteries and its battery supply system, in a bid to take a lead in the key automotive technology over the next decade.
Considered a leader in developing batteries for electric vehicles, Toyota said it aimed to slash the cost of its batteries by 30% or more by working on the materials used and the way the cells are structured. The company is also the front runner to mass produce solid-state batteries - a potential game changer for automakers because they are more energy dense, charge faster and are less prone to catching fire. If developed successfully, they could replace liquid lithium-ion batteries.
Source: Car News Wire (carnewswire.net)
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