Toyota (TM) prepares to roll out solid-state EV batteries

An executive from Japan’s Toyota Motor (NYSE: TM) announced Thursday that the automaker is preparing to launch solid-state batteries that charge faster and last longer.

India’s head of Toyota Kirloskar, Vikram Gulati announced that electric vehicles with solid state batteries will be “rolling out” a couple of years from now.

It "will be a vehicle which will be charging in 10 minutes, giving a range of 1,200 kms (750 miles) and life expectancy will be very good". Added Gulati.

Solid-state batteries hold the potential to significantly enhance the driving range of EVs, a crucial aspect of Toyota's strategic shift unveiled in June. This shift aims to regain lost ground to competitors like Tesla and Chinese firms such as BYD in the electric vehicle race.

In a collaborative effort with oil refiner Idemitsu Kosan announced last year, Toyota is actively working towards the development and large-scale production of all-solid-state batteries. Their plan is to bring these batteries to the commercial market by 2027 and 2028, followed by full-scale mass production.

Regarding Toyota's strategy for solid-state batteries in India, Gulati mentioned that the automaker has a range of sustainable technology options. These options are tailored to align with the specific needs and preferences of the country, market dynamics, and customer choices.

"Right now, for India, flex fuel and ethanol can be a no-brainer right away," said Gulati.

Shares of TM are up 1.22% in mid-day trading on Wednesday.

By Michael Elkins | [email protected]

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