Toyota Plans To Invest $13 Billion To Develop And Build Power Batteries

- Jul 31, 2018-

Toyota said it would launch 10 all-electric cars in the global market around 2020 and sell about 1m electric and fuel-cell vehicles annually by 2030, a goal it said would require more than $13bn to develop and manufacture batteries.

Toyota will start with pure electric cars in China, followed by Japan, India, the us and Europe.Toyota expects electric cars to account for about half of its global sales by 2030, when it plans to sell 4.5 million gas-electric hybrid and plug-in hybrid cars a year.

Toyota said it and panasonic are considering developing next-generation batteries for electric cars, including solid-state batteries, as well as electric cars with Mazda and suzuki.At the moment, Toyota's supply of batteries for electric cars is largely made up of suppliers such as LG chem and panasonic, but the alliance with panasonic may not be enough by 2030 to meet its battery needs.