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Toyota races to develop solid-state battery for electric vehicles

Published 13/06/2023, 04:31 pm
© Reuters.

Investing.com - In a recent announcement, Toyota revealed its ambitious plans to develop a solid-state battery as part of its strategy to advance battery electric vehicles. This comes amidst growing concerns that Japan's leading automaker needs to take further action against climate change.

The company aims to commercialize the solid-state battery by 2027, which could significantly reduce charging time—one of the primary drawbacks of electric vehicles—to just ten minutes or less. Additionally, the next-generation battery EV will allow drivers to customize their driving experience according to acceleration, turning, and stopping preferences.

While many current EV owners use home charging stations and plug in their cars overnight for recharging purposes, Toyota has long argued that hybrid vehicles offer a better solution since they recharge while in motion. However, acknowledging the need for progress within the EV sector, Toyota President Koji Sato admitted that catching up is essential.

At an upcoming shareholders' meeting set in central Japan's Toyota City on Wednesday, it is expected that the automaker will face criticism regarding its commitments towards combating climate change. In response to this anticipated scrutiny, Toyota also announced innovations related to lithium-ion batteries—the type currently used in most EVs—aiming at providing new affordable options.

Furthermore, as part of their commitment toward building a "hydrogen society," Toyota continues working on hydrogen-powered models such as fuel cell vehicles. While hydrogen production remains expensive and reliant on fossil fuels today; efforts are underway—with various partners—to create cleaner and more cost-effective hydrogen using renewable energy sources.

Lastly, alongside these innovative projects focused on electric vehicle advancements and alternative fuel sources like hydrogen power generation systems, Toyota also explores second-generation biofuels such as ethanol-based products which hold potential advantages over traditional fossil-fuel-based solutions despite certain challenges.

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