September 07 - 08:09
Toyota reveals commitment to EV battery technology and supply
Toyota says it will spend at least $13.5bn before 2030 on electric vehicle battery technology and supply. CTO Masahiko Maeda revealed in a briefing that the automaker wants to cut the cost of batteries by 30%. It believes this strategy will see it lead in the EV battery sector as adoption of electric cars rapidly increases. Toyota is set to release its first all-electric model next year.
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