Toyota Motor Announces Plan To Reduce Battery Cost Per Vehicle

Toyota Motor Corp. (TYT.L,TM) said, through an integrated development of vehicles and batteries, the company targets to reduce the battery cost per vehicle by 50 percent compared to the Toyota bZ4X in the second half of the 2020s. It also aims to achieve a per-vehicle cost of 50 percent or less compared to now. The company anticipates the amount of investment in the development of a battery supply system and research and development to be approximately 1.5 trillion yen by 2030.

The company's bipolar nickel-metal hydride battery, which was announced in 2021 and is focused on providing instantaneous power, will be used in an increasing number of vehicles. The company will also aims to commercialize all-solid-state batteries. Toyota is also developing a further advanced new type of lithium-ion battery for introduction in the second half of the 2020s.

Toyota Motor also said it will strive to reduce CO2 emissions by increasing the selection of electrified vehicles it offer and having customers in each region choose the company so that it can accelerate the dissemination of electrified vehicles.

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