logo
  

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Financial services firm Morgan Stanley (MS) reported Wednesday a profit for the fourth quarter that increased 10 percent from last year, reflecting 7 percent revenue growth amidst strength in Wealth Management and Investment Management business segments. Bank of America Corp. (BAC) reported Thursday that net income applicable to common shareholders for the fourth quarter grew 30 percent to $6.77 billion from last year's $5.21 billion, with earnings per share increasing to $0.82 from $0.59 in the prior year, reflecting strong operating leverage as revenues... Shares of ASML Holding N.V. were gaining more than 1 percent in Amsterdam trading after the Dutch semiconductor equipment maker reported Wednesday higher profit and net sales in its fourth quarter. The company also projects higher sales in fiscal 2022, and a 100 percent increase in total dividend.
Follow RTT