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Toyota unveils sweeping plans for new battery tech, EV innovation

Posted on AllSides June 13th, 2023
From The Center
REUTERS/Soe Zeya Tun

Toyota (7203.T) will introduce high-performance, solid-state batteries and other technologies to improve the driving range and cut costs of future electric vehicles (EVs), the automaker said on Tuesday, a strategic pivot that sent its shares higher.

The Japanese giant's technology roadmap, covering aspects as varied as next-generation battery development and a radical redesign of factories, amounted to the automaker's fullest disclosure of its plan to compete in the fast-growing market for EVs where it has lagged rivals led by Tesla (TSLA.O).

The plan comes a day before an annual shareholders...

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