(Reuters) Toyota Motor Corp. will invest more than $13.5 billion by 2030 to boost its battery development and battery supply system.
The investment by Toyota seeks to make the automaker a key automotive technology player over the next ten years.
Toyota aims to cut the costs of its batteries by 30% and above through using innovative materials and structuring of the cells.
The automaker is also aiming to produce gamechanger solid-state batteries, which are more energy-dense, less prone to fires, and charge faster. The company plans to use solid-state batteries on hybrid electric vehicles.
Toyota, which currently leads in battery making for electric vehicles, is also the largest automaker by volume.
7203: TYO is up +0.43%
