Toyota Claims Battery Breakthrough Can Halve Cost, Size

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Facts

  • On Tuesday, Japanese car manufacturer Toyota announced it had made a technological breakthrough that would enable it to cut the weight, size, and cost of batteries in half, which would be a major boon to the electric vehicle (EV) industry.1
  • The world’s largest car manufacturer by vehicles sold said it had developed technology for lighter and cheaper solid-state batteries, which would increase the range of EVs.2
  • The carmaker said it had simplified the production process of the revolutionary batteries and been able to solve prior durability issues, estimating that it would be able to commercialize solid-state battery technology in its EVs by 2027 or 2028.3
  • Compared to the industry standard liquid-based lithium-ion batteries, solid-state batteries replace liquid electrolytes with a solid that uses lithium at the anode instead of graphite. Toyota claims the batteries would give EVs a range of 1200 km and a charging time of 10 minutes or less.3
  • Since first announcing its solid-state battery roadmap last month, Toyota's shares have increased by 13%.3

Sources: 1Guardian, 2The Telegraph, and 3FT.

Narratives

  • Narrative A, as provided by CEO Insights Asia. Toyota is on the path to creating a groundbreaking technology that would not only improve the cost and production of electric vehicles but would also play a key role in the fight for environmental sustainability. Toyota has been at the cutting edge of technology and has wisely devoted time and resources to solid-state battery development. It seems like the efforts have paid off, as the revolutionary batteries could be available by 2027.
  • Narrative B, as provided by CleanTechnica. While it would be great to believe that Toyota has actually produced “game-changing” technology that will revolutionize the auto industry, the reality is more complex. Toyota has claimed for years that it is on the brink of some breakthrough but has been lagging behind other industry leaders in EVs. Toyota has no concrete details about its plan, and praises should be postponed until material progress is actually made.