Toyota has unveiled plans for a new range of solid-state batteries to power its electric vehicles that will boost their range up to 1,200km or more before a recharge.
In a major revamp of strategy, the Japanese carmaker said it will launch top-of-the-range lithium-ion EV batteries in 2026 and redesign its factories to boost production.
Toyota also claimed it had made a breakthrough in solid-state batteries (SSBs), which hold more energy than liquid electrolyte versions enabling them to run for much further without a recharge.
Lithium iron phosphate batteries, a cheaper alternative to lithium-ion batteries, will fill in the gaps while SSB production ramps up while it will also produce a more efficient Li-ion battery that can run for 620km.
Tesla’s Model Y, the world's best-selling EV, can drive for about 530 km.
Toyota explained that an EV powered by a solid-state battery would have a range of 1,200 km and a charging time of just 10 minutes, which compares with the Tesla Supercharger network where a 321 km of charge takes 15 minutes.
European car makers have been spending heavily on developing SSBs, including the UK where a 24-month programme is underway involving BMW, racing group Williams and AIM-listed battery developer Ilika.
Toyota's push into SSBs also highlights the pressure on Koji Sato, chief executive, and other senior management due to the company’s perceived slow EV pace and how far ahead rivals such as Tesla have pulled.
In an unprecedented move, shareholders in the car company called for the removal of chairman Akio Toyoda over governance issues and the EV rollout at the AGM on Wednesday.
US pension funds Calpers and Calstrs have both said they will support the motion for Toyoda’s removal, though he has strong support elsewhere and is unlikely to be unseated, said commentators.
Today’s unveiling of the new EV roadmap might have been designed to head off some of that criticism, Toyota watchers said, adding it was a detailed plan that looked to have been developed over time.
As an example, the new factories will dispense with a line assembly, instead using self-propelling technology with the cars driving themselves to the next part of the production process.
Toyota is aiming to produce about 1.7mln vehicles by 2030 from its new factories or half of the 3.5mln a year EV sales it is aiming for by then.
Tesla sold about 1.3mln EVs last year, a fraction of Toyota’s sales overall but is valued at more than three times the Japanese company, something else that is irking Western shareholders.