Toyota eyes leadership in EV battery technology over next decade with announced investments, says GlobalData

Toyota eyes leadership in EV battery technology over next decade with announced investments, says GlobalData

13.09.2021: Following the news that Japanese automaker Toyota plans to spend U$13.5bn to develop electric vehicle (EV) battery technology and supply system by 2030;

Following the news that Japanese automaker Toyota plans to spend U$13.5bn to develop electric vehicle (EV) battery technology and supply system by 2030;


 
Bakar Sadik Agwan, Senior Automotive Consulting Analyst at GlobalData, a leading data and analytics company, offers his view:
“Toyota, the world largest automaker by volume sales, pioneered the transition to hybrid vehicles since its first-generation Prius launched in 1997. The automaker’s latest plans indicate that it is eying similar success as hybrids, in battery-electric vehicles (BEVs) by gaining leadership in battery technology and supply.
 


“Toyota investing in the development and manufacturing of full line-up of batteries will support the company’s ambition of mass production of EVs and achieve its targets of selling 8 million EVs by 2030 and carbon neutrality target by 2050. It plans to launch 15 BEVs in the global market by 2025.
 


“The company plans over the next decade includes working on improving the present lithium-ion battery technology to reduce risks such as fire and get better endurance, launch a new advanced lithium-ion battery and introduce by second half of 2020. Also, work on material and structures to reduce cost of batteries by 30% and ultimately reduce cost of battery per vehicle by 50%. Toyota also plans to commercialize the next-gen solid-state batteries.
 


“It has planned to first use solid-state batteries in hybrid vehicles, which seems to be a practical and cost-effective step towards commercializing solid-state batteries, which are significantly higher priced than lithium-ion. Hybrids need only a small capacity compared to what BEV would have required, limiting the inflation in the vehicle cost. Toyota is already a frontrunner in solid-state battery development along with its partner Panasonic, early commercialization will give Toyota a significant leap in the global EV battery market.
 


“Toyota’s plans for in-house production of batteries apart from production with other partners is an important decision that will offer it a competitive edge over other players and secure enough supply for its future vehicles – a major challenge during these COVID-19 times and budding EV sales.



“Toyota seems to be quite holistic in its battery plans and will solve major concerns pertaining to batteries and EVs namely – higher cost of vehicles, range anxiety, concerns over service life, battery quality, performance and fire issues. The roadmap will significantly enhance Toyota’s competitive position in EV market over next decade.”




GlobalData

Permanent-URL: http://www.automobilsport.com/toyota-leadership-ev-battery-technology-investments-globaldata---228402.html

13.09.2021 / MaP

More News

German Electric Vehicle Manufacturer, Next.e.GO, successfully closes $ 57 M Series C funding round
26.08.2021
Next.e.GO Mobile SE, the German Electric Vehicle manufacturer company producing affordable, purpose-built and sustainable urban electric vehicles based on its disruptive technologies and unique microfactory, announced today that its majority shareholder, nd Industrial Investments B.V., part of international private equity company nd Group B.V. has successfully closed a series C equity funding r more >>
Business venture restructuring in China to help Mazda Motor to improve competitive position, says GlobalData
26.08.2021
Following the news that Japanese automaker Mazda Motor Corp has agreed to restructure car joint venture (JV) with Chinese partners Changan and FAW;  Bakar Sadik Agwan, Senior Automotive Consulting Analyst at GlobalData, a leading data and analytics company, more >>
Capacity expansion investment to boost MG Motor competitive position in India, says GlobalData
25.08.2021
Following the news that automaker MG Motor plans to invest INR25bn (US$340m) in India by 2022 end;  Bakar Sadik Agwan, Senior Automotive Consulting Analyst at GlobalData, a leading data and analytics company, offers his view:  “A more >>
Hagerty and Aldel Financial Announce Merger Agreement for Hagerty to Become a Publicly Traded Company
19.08.2021
Specialty automotive insurance provider offers investors high-growth trajectory, scalable membership model, a leading automotive lifestyle brand and a unique value proposition targeting the expansive and growing automotive enthusiast m more >>
Goodyear Ventures invests in EV charging and software company Ampup
17.08.2021
Goodyear announced  that its venture capital arm, Goodyear Ventures, has added AmpUp, a leader in electric vehicle (EV) charging, to its investment portfolio.AmpUp supports the EV driving comm more >>
Intelligent Systems - Tech Helps GAC Jump to 176th on the Fortune 500
13.08.2021
For almost 25 years, GAC has strengthened independent innovation on the basis of joint ventures and cooperation, as well as through extensively funding of the GAC R&D Centers. This investment in technology has yielded great results: as of August 2, 2021, GAC had jumped 30 places up on the Fortune 500 list to 176th.  more >>
Geely will bolster Renault presence in China, says GlobalData
10.08.2021
Following the news that Geely Holding Group and Renault Group have agreed to form a hybrid vehicle joint venture with focus on China and South Korea markets;   Bakar Sadik Agwan, Senior Automotive Consulting Analyst at GlobalData, a leading more >>
Goodyear reports second quarter, first half 2021 results
06.08.2021
– Second quarter Goodyear net income of $67 million; adjusted net income of $79 million– Second quarter merger-adjusted segment operating income of $349 million– Global consumer replacement volume continued to exceed industry, driven by large-rim diameter volume– Global consumer OE volume outpaced market, with more >>
BMW Group boosts profitability and earnings in second quarter despite semiconductor shortage
03.08.2021
The BMW Group continued performing dynamically in the second quarter, setting new record figures for sales, earnings and net profit. Demand for the Group’s premium vehicles has remained strong, with continued good pricing.   more >>
Kia announces July 2021 global sales
02.08.2021
    July global sales at 241,399 units, up 8.7% y/y    Sales in Korea at 48,160 units, up 2.4% y/y    Sales outside of Korea rose to 193,239 units, up 10.4% y/y    Kia to maintain sales momentum through competitive vehicles including the EV6 battery electric vehicle and all-new Sportage more >>
Volkswagen posts a strong first half
31.07.2021
Volkswagen Passenger Cars brand sees a marked increase in deliveries, sales revenue and earnings in the first half of 2021 despite considerable challenges     Sales revenue of EUR 40.7 billion, operating profit of EUR 1.8 billion, operating net more >>
Renault Group is ahead of its "Renaulution" plan
30.07.2021
    Renault Group should achieve its target of €2 billion cash fixed cost reductions one year ahead of schedule: €1.8 billion have already been achieved of which €0.6 billion during this first half compared to 2019.    Strong positive net price effect (+8.7 points on the Automotive excluding AVTOVAZ revenues), reflecting the more >>
Porsche more than doubles operating result
30.07.2021
Half-year report: 16.53 billion euros sales revenue and 16.9 percent return on sales   Significant boost in the first six months: in the first half of 2021, Porsche achieved sales revenues of 16.53 billion euros and an operati more >>
Successful first half-year for Audi: record deliveries and strong profits
30.07.2021
   Record deliveries: the best first half-year in Audi’s history with 981,681 vehicles delivered to customers         Revenue totals €29.2 billion, operating profit €3.1 billion, operating retur more >>
Mitsubishi Motors Announces Production, Sales and Export Figures for June 2021 and First Half of Calendar Year 2021
29.07.2021
June 2021     Fiscal Year 2020 (21/04-21/06)     Calendar Year 2021 (21/01-21/06) Volume     YoY(%)     Volume     YoY(%)     Volume     YoY(%) Production more >>
Volvo Cars reports record six-month performance in H1 2021
24.07.2021
    Revenue of MSEK 141,131 (111,759), +26.3%    Operating income increased to MSEK 13,238 (-989)    EBIT margin of 9.4% (-0.9%)    Basic earnings per share of SEK 163.63 (-35.99)    Retail sales up 41.0%, resulting in approximately 775,000 cars sold for the p more >>
Volvo Cars to take full ownership of its Chinese manufacturing and sales operations
22.07.2021
Volvo Cars has signed an agreement with its parent, Geely Holding, to acquire Geely Holding’s stake in the companies’ joint ventures in China, with the aim of taking full ownership of its car manufacturing plants and sales operations in the country. more >>
BMW Group posts strong sales for first half-year
08.07.2021
On course for solid, profitable sales growth in 2021.BMW Group sales +39.1 percent higher year-on-year; 1,339,080 vehicles sold in first six months   - Sales up +7.1 percent from pre-crisis year 2019 - Sales more >>
McLaren Automotive appoints George Biggs as Commercial Executive Director
01.07.2021
Luxury supercar maker McLaren Automotive today announces the appointment of George Biggs to the role of Commercial Executive Director, effective 1 July.George assumes responsibility for global sales more >>
BMW i Ventures Announces New $300 Million Venture Capital Fund
01.07.2021
... to Further Invest in Sustainability, Transportation, Manufacturing and Supply ChainBMW i Ventures announced  the creation of a new $300 million venture capital fund with a strong focus on sustainability. The new fund will invest in early to mid-stage start-ups ope more >>
Mitsubishi Motors Announces Production, Sales and Export Figures for May 2021
29.06.2021
May 2021     Fiscal Year 2020 (21/04-21/05)     Calendar Year 2021 (21/01-21/05) Volume(unit)     YoY(%)     Volume(unit)     YoY(%)     Volume(unit)     YoY(%) more >>
Volkswagen Group secures second highest monthly market share in Europe since 2001
29.06.2021
    European new car registrations increased last month compared to May 2020, but still far from pre pandemic levels    Volkswagen Group gained traction thanks to SUV and new EV offerings more >>
Uber partnership to help Kia strengthen EV share in Europe, says GlobalData
18.06.2021
Following the news that South Korean automaker Kia has partnered with shared mobility giant Uber to supply electric vehicles (EVs) in Europe; Bakar Sadik Agwan, Senior Automotive Consulting Analyst at GlobalData, a leading data and analytics company, offers his view: more >>
Volkswagen invests a further €500 million in sustainable battery activities with Northvolt AB
11.06.2021
    Group participates in financing round with a total of US$2.75 billion and continues to hold about 20 percent of the shares in the Swedish cell producer    Funds to be used for capacity expansion in production, recycling and research and development    Arno Antlitz, Group Board Member for Finance a more >>
Goodyear to present at Deutsche Bank Virtual Investor Conference
10.06.2021
The Goodyear Tire & Rubber Company today said it will webcast its presentation during the Deutsche Bank Global Auto Industry Conference on June 16, 2021.Darren R. Wells, executive vice president and chief financial officer, will provide a business overview. more >>
EU budget 2022: Speeding up Europe's recovery and progressing towards a green, digital and resilient future
09.06.2021
The Commission has today proposed an annual EU budget of €167.8 billion for 2022, to be complemented by an estimated €143.5 billion in grants under NextGenerationEU. Their combined firepower will mobilise significant investments to boost the economic recovery more >>
Draft annual EU budget 2022 - Questions and answers
09.06.2021
  1.  What are the priorities of the draft budget for 2022?The EU budget is the centrepiece of the Union's recovery efforts, aiming to get Europe back on track following the COVID-19 pandemic and its consequences. more >>
FLA - Consumer car finance market boost in April as showrooms re-open
07.06.2021
New figures released today by the Finance & Leasing Association (FLA) show that the consumer car finance market reported growth in new business volumes of 1276% in April 2021 compared with the same month in 2020. In the first four months of 2021, new business volumes were 13% higher than in the same period in 2020. more >>
American Honda Sets All-time Monthly Sales Record in May
03.06.2021
    American Honda set an all-time sales record for any month on sales of 176,815 in May       Honda brand light trucks set new all-time monthly sales record, helping the brand to record May s more >>
Kia announces May 2021 global sales
01.06.2021
    May global sales at 245,994 units, up 49.2% y/y    Sales in Korea at 47,901 units, down 6.4% y/y    Sales outside of Korea jumped to 198,093 units, up 74.2% y/y    Kia to create sales momentum through new models, including the Kia EV6 battery electric vehicle and all-new Sportag more >>
Roland Villinger appointed new Head of Corporate and Product Strategy at SKODA AUTO
31.05.2021
- Roland Villinger will have responsibility for the newly created area of ‘Corporate and Product Strategy’ at ŠKODA AUTO as of 1 June 2021   - ‘Corporate Development and Digitalisation’ and &lsqu more >>
Mitsubishi Motors Announces Production, Sales and Export Figures for April 2021
28.05.2021
April 2021     Fiscal Year 2020 (21/04-21/04)     Calendar Year 2021 (21/01-21/04) Volume(unit)     YoY(%)     Volume(unit)     YoY(%)     Volume(unit)     YoY(%) more >>
Dometic acquires Front Runner Vehicle Outfitters
21.05.2021
On May 20, 2021, Dometic entered into an agreement to acquire Front Runner Vehicle Outfitters – a global provider of high-qualitive products for the outdoor market headquartered in South Africa.SUMMARY   • This more >>
Hagerty compares the depreciation of modern supercars
21.05.2021
    Hagerty studies the depreciation curve of modern supercars from Ferrari, Aston Martin, and Porsche    Analysts found that high-profile launches, with cars selling for over list, may damage residual values in the short-term    Italian supercars depreciate less than their British counterparts, with more >>
BMW Ad-hoc announcement: Partial release of the provision with respect to EU antitrust proceedings
21.05.2021
Based on the progress of the proceedings, BMW AG expects, compared with the statement of objections of 5 April 2019, that the EU Commission will significantly reduce its allegations against BMW AG in terms of content and duration. The subject matt more >>
UNCTAD - Global trade's recovery from Covid-19 crisis hits record high
19.05.2021
•    Global trade’s recovery from the COVID-19 crisis hit a record high in the first quarter of 2021, increasing by 10% year-over-year and 4% quarter-over-quarter, according to UNCTAD’s Global Trade Update released on 19 May.FULL Trade update more >>
Lexus achieves cumulative global sales of two million electrified vehicles
18.05.2021
    19 million tons cumulative reduction in CO2 emissions since 2005    Lexus’ first plug-in hybrid model to be launched in 2021, followed by a completely new, dedicated all-electric model in 2022    More than 10 electrified models to be launched by 2025    Carbon neut more >>
Mazda closes fiscal year with positive profit
15.05.2021
    Strong recovery in the second half of the fiscal year brought in positive profit    Positive outlook on sales and profits despite challenging market environmentThe Mazda Motor Corporation today announced more >>
Mazda Motor Europe announces Martijn ten Brink as its new President & CEO
15.05.2021
Mazda Motor Europe (MME) has announced that effective 24th June 2021, Martijn ten Brink, currently Vice President of Sales & Customer Service at MME, will become President & CEO of MME succeeding Yasuhiro Aoyama who has led the European business since 2019. more >>
2001-2023 copyright automobilsport.com