Toyota has announced a significant battery electric vehicle initiative, one that should help it make up for lost time.
Despite pioneering the hybrid vehicle market with its popular Prius line of vehicles, Toyota has been noticeably resistant to going all-in on fully electric vehicles. Company president Akio Toyoda even said, “the current business model of the car industry is going to collapse” if governments push for a transition too quickly.
The company now appears eager to catch up to rivals, such as Tesla and Ford. Tesla is already a BEV-only manufacturer, and Ford has been aggressively embracing the conversion to EVs. At a recent company event, Toyota execs took the wraps off a number of innovations that should help the company gain ground.
The company has a multi-generational battery strategy, with its next-gen version set for production in 2026. This battery will deliver more than 600 miles of driving on a charge. In or after 2028, however, the company expects to ship batteries that will provide more than 900 miles of range. Toyota is also changing its manufacturing process to make battery production cheaper and improve charging times.
Toyota is also taking a page from Tesla, using Giga casting to produce slimmer, sleeker designs that are easier and cheaper to make and provide more aerodynamic profiles for better efficiency.
If Toyota is able to deliver on its plans, the automaker could quickly become the one to beat in the BEV market.