Toyota Us Boss Says Company Is ‘catching Up' on Electric Vehicles
Electrek 8:03 pm on May 22, 2024
Peter Johnson reports that Toyota is attempting to catch up with electric vehicle production, focusing on next-gen batteries and EV ecosystems. However, given the low percentage of their sales attributed to EVs thus far, skepticism remains regarding whether these efforts will lead to significant market penetration in time.
- Electric Vehicle Development: Toyota acknowledges its lag in electric vehicle adoption and is striving for catch-up.
- Battery Technology Innovation: Plans to launch two next-gen battery models with reduced costs, enhanced range, and solid-state technology by the end of this decade.
- Efficiency Improvements: Introduction of Giga casting for quicker mold changes and automated production lines to enhance efficiency.
- Expansion and Investment: Toyota invested in a $1.4 billion Indiana facility specifically designed for electric vehicle manufacturing.
- Market Skepticism: Despite advancements, the low current market share of EVs by Toyota raises doubts about their ability to make substantial progress quickly.
https://electrek.co/2024/05/22/toyota-catching-up-electric-vehicles/