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Toyota CEO announces automaker’s EV battery plan

The Toyota Motor Corp logo during the Toyota City Show is displayed at the company’s Mega Web car theme park in Tokyo, Japan, on Monday, November 1, 2021.

Kiyoshi Ota | Bloomberg | beautiful pictures

Toyota, one of the world’s largest automakers, is planning to invest 4 trillion yen ($35 billion) to build a full 30 battery electric vehicles by 2030.

CEO Akio Toyoda said it also aims to increase global sales of battery electric vehicles by 3.5 million units a year by the end of the decade.

Most of Toyota’s current electric vehicle sales are hybrid electric car provided by a combination of internal combustion engine and battery-powered electric motor. Battery-powered electric vehicles make up only a fraction of the company’s current sales.

According to Toyoda, the Japanese automaker will increase its new investments in battery technology from 500 billion yen ($4.4 billion) to 2 trillion yen. This will be part of Toyota’s broader investment of yên4 trillion in battery electric vehicles and will include investment costs as well as research and development.

Toyota also plans to invest an additional 4 trillion yen in other electric vehicles, including hybrids, plug-in hybrids and electric vehicles that use hydrogen as a power source.

Toyoda said during a press conference on the automaker’s battery electric vehicle strategies, it’s important to flexibly change the types and quantities of products produced, while keeping an eye on trends. market. your comments in Japanese.

“We believe that it’s more important to quickly adapt to future changes than trying to predict the future, which is not uncertain. We want to provide options for our customers to come up with,” he said. knowing the right path,” he added.

As for the luxury brand Lexus, Toyota has set a target that by 2030, battery electric vehicles will account for 100% of vehicle sales in Europe, North America and China, and globally by 2035.

Despite being one of the pioneers of the hybrid model, Toyota has been relatively slow in promoting battery electric vehicles compared to some global rivals such as Synthetic engine and Ford.

Last month, at the United Nations climate conference in Scotland, the Japanese carmaker refused to join a group of six major carmakers, including Sweden’s Volvo and Sweden’s Volvo. By Daimler Reuters news agency reported, Mercedes-Benz will sign a declaration to phase out fossil fuel cars by 2040.

A top Toyota executive has told the news agency that the company doesn’t want to be seen as an electric vehicle manufacturer, but rather as a zero-carbon business.

Toyota is aiming to be carbon neutral at its production plants by 2035, Toyoda said at a press conference on Tuesday.

Competitor Nissan last month said it would invest 2 trillion yen (about 17.6 billion dollars) in the next 5 years to accelerate the electrification of its product line. It plans to launch 23 new electric vehicle models by 2030, 15 of which will be all-electric.

https://www.cnbc.com/2021/12/14/toyota-ceo-announces-automakers-battery-ev-plans.html Toyota CEO announces automaker’s EV battery plan

Sarah Ridley

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