Toyota reveals comprehensive programs for unique battery tech's EV innovation

June 14, 2023: On Tuesday, shares of Japanese automaker Toyota increased nearly 5% after the firm revealed it will introduce a complete lineup of battery electric vehicles with “next generation” batteries from 2026.

These will be designed and manufactured by a new EV unit called BEV Factory, established in May.

In a presentation, Takero Kato, president of BEV Factory, said that Toyota targets a driving range of 1,000 kilometers (620 miles) for its EVs. Kato noted that BEV Factory will deliver about 1.7 million vehicles by 2030.

In comparison, the Tesla Model 3 has a range of about 430 kilometers, while the long-range model has a capacity of about 570 kilometers.

Toyota aims to achieve sales of 1.5 million all-electric vehicles annually by 2026 and 3.5 million all-electric cars by 2030.

Separately, the company is also developing a method for mass-producing all-solid-state batteries for battery electric vehicles and seeks to commercialize this between 2027 and 2028.

Toyota said it would see a 20% improvement in cruising range for its all-solid-state batteries compared to the current storms.

This is along with a higher-specification model that is under research and development. This model strives for a 50% improvement in the cruising range compared to the current product.