Toyota shows blueprint for "next-generation" battery-powered trams with 1,200 km range and 10 minutes of charging, shares soar
After announcing its blueprint to accelerate its push into the pure electric vehicle sector with high-performance batteries and other technologies in recent years, Japanese auto giant Toyota's shares surged.
Local time on Tuesday, June 13, the Tokyo Stock Exchange-listed Toyota shares closed up about 5%, the New York Stock Exchange-listed Toyota U.S. shares jumped more than 5.5%, early shares had risen to $ 159 above, up nearly 6.4% during the day, the potential and Japanese shares since August last year to close at a new high.
Earlier Tuesday, Toyota announced that it will launch a full line of all-electric vehicles (BEVs) with "next-generation" batteries starting in 2026, and these vehicles will be developed and manufactured at Toyota's new own BEV development center, called BEV Factory, which was established in May this year. Factory.
Takero Kato, president of BEV Factory, said the development center's goal is to produce about 1.7 million electric vehicles by 2030. That's almost half of Toyota's annual electric vehicle sales by then.
Toyota plans to sell 1.5 million electric cars a year by 2026 and 3.5 million a year by 2030, about a third of its global sales.
On the battery front, Toyota aims to introduce next-generation lithium-ion batteries that offer longer range and faster recharging starting in 2026.
Toyota is aiming for a range of 1,000 kilometers for its electric cars. By comparison, the Tesla Model 3 has a maximum range of only about 675 kilometers.
Toyota says its all-solid-state battery will have a 20 percent range improvement over current commercially available batteries. Equipped with the battery, Toyota is developing higher specification models will be expected to improve the range of the existing models by 50%.
Toyota is developing a method for mass-producing solid-state batteries for electric vehicles, with the goal of commercializing the technology between 2027 and 2028. The range of this solid-state battery will be 20% higher than the first generation of high-performance batteries, which means that the range will be increased from 1,000 km to 1,200 km.
At the same time, this battery charging capacity from 10% to 80% of the fast charging time of only 10 minutes.
In comparison, the current largest Tesla Supercharger network can provide the equivalent of 321 kilometers of charging in 15 minutes.The media believes that this could mark a continued shift in Toyota's electric vehicle strategy under CEO Tsuneharu Sato, who took office in April this year. Sato said in February that Toyota will take a different approach to accelerate the development of BEVs.
Toyota also said it was developing a dedicated platform for electric vehicles that would reduce the cost of new models, as well as a highly automated assembly line to replace the traditional conveyor belt system that has been used for more than 100 years to produce cars. In Toyota's "self-propelled" production line, cars will automatically complete the entire assembly and production process. At the same time, Toyota will also use the Giga casting technology pioneered by Tesla to reduce production costs.
