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HomeTechnologyToyota reveals multi-billion battery plans after dropping the EV ball

Toyota reveals multi-billion battery plans after dropping the EV ball

Toyota plans to pump $3.4 billion into high-tech batteries for electrical automobiles in the United States, with the automaker revealing competitive plans for next-gen cells via 2030. The funding will see a brand new car battery plant built, Toyota says, because it pushes again in opposition to ideas that it allowed its electrification lead over competition to wane.

Vehicles just like the Prius gave Toyota an early-mover benefit in EVs, appearing the opportunity of combining interior combustion engines with electrical motors and batteries. Alternatively, whilst the Prius circle of relatives has been a massively well-liked vary for Toyota, the corporate used to be a ways slower to embody additional EV applied sciences than its competitors proved to be.

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