Toyota will introduce high-performance, solid-state batteries and other technologies to improve the driving range and cut costs of future electric vehicles (EVs), the automaker said on Tuesday, a strategic pivot that sent its shares higher.
"What we want to achieve is to change the future with BEVs," Takero Kato, president of new Toyota EV unit BEV Factory, said in a video posted on the automaker's YouTube channel on Tuesday.Toyota said it was developing a dedicated EV platform to reduce the cost of new models and a heavily automated assembly line that would do away with the conveyor belt system that has defined auto production since Henry Ford over 100 years ago.
It also said it would use Giga casting to cut production costs, adopting an innovation pioneered by Tesla using massive, aluminium casting machines to reduce vehicle complexity. Toyota's BEV Factory, established in May, aims to produce about 1.7 million vehicles by 2030, Kato said - about half of the 3.5 million EVs Toyota aims to sell annually by that year., including under its Lexus brand, accounting for more than 1% of its global sales in a single month for the first time.
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