Toyota Motor plans to spend 1,500 billion yen (about $ 13.5 billion) by 2030 to develop batteries and its battery power system. The strategy of the Japanese giant is to reduce costs through the integrated development of vehicles and batteries to provide vehicles at reasonable prices. The aim is to reduce battery costs in the order of 50% (per vehicle).
“We are still looking for the best materials to use,” remarks Toyota Chief Technology Officer Masahiko Maeda. Toyota is targeting the development of solid-state batteries, which have the advantage of charging faster and are less prone to catching fire than liquid lithium-ion batteries. Among the nodes, however, there is that of the short duration of these cells. Toyota also plans to use solid-state batteries in hybrid electric vehicles such as the Prius.