Toyota Motors Corp. has reluctantly joined the ongoing electric vehicle (EV) revolution, with a focus to produce reliable EVs for the mass market.
It has joined forces with Panasonic to develop quick-charging and longer-lasting battery packs. According to details, the new batteries contain a special coolant that prevents them from overheating.
Toyota claims that the new battery packs will retain their original energy storage and charging capacity for over a decade. These batteries will also be less susceptible to catching fire, the company added.
At a test-drive event for the new bZ4X — Toyota’s upcoming electric SUV — the company’s project manager highlighted that Toyota is focused on “balancing three factors: cruising range, battery degradation, and charging speed.” He added that the company is working on other methods to ensure the longevity and reliability of battery packs.
Toyota has earmarked $70 billion for EV development and aims to sell 3.5 million EVs annually by 2030. It will start selling its first electric SUV in Japan and other major markets in mid-2022.
Toyota’s Stance on EV
Toyota remains critical of global EV normalization. The company states that it wants a “diversity of powertrains”, while heavily favoring the normalization of hydrogen fuel cell vehicles (FCV) and hybrid cars.
Several industry experts have criticized Toyota’s staunch approach. Honda’s CEO, Toshihiro Mibe recently stated that its rival’s pursuit of FCVs is unfeasible.
He explained that:
We have conducted research into every possibility that’s out there. As for hydrogen engines, we see some quite difficult technological challenges. So, about 10 years ago, we decided this would not become mainstream.
