Toyota to market over 10 battery EV models in early 2020s

18 Dec 2017   Electric Cars

Toyota Motor Corp ( 7203.T ) said it would market more than 10 all-electric vehicle (EV) models globally in the early 2020s, a target which could require the firm to look beyond a partnership with Panasonic Corp ( 6752.T ) to co-develop and supply batteries. Setting an annual sales target of around 1 million zero-emission battery EVs and fuel-cell vehicles (FCVs) by 2030, the automaker said in order to achieve this it would need to make an investment of over $13 billion to develop and make batteries. Toyota, the world’s second-largest automaker by sales after Volkswagen AG ( VOWG_p.DE ), added it needed to accelerate the pace of battery development as tightening global vehicle emissions regulations would require a steep increase in manufacturing capacity for more powerful batteries. “As a mass-market automaker, we need to expand our offering of electric cars,” Executive Vice President Shigeki Terashi […]

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