Toyota shortThe company is focusing on two key areas - namely manufacturing and battery technology. While Toyota is developing a dedicated EV platform to help cut costs, it is looking to deploy a highly automated manufacturing process at a new EV unit called BEV Factory, established last month. Toyota is known for its manufacturing efficiency and processes with internal combustion engine-based cars, and the company’s specific plans for EVs could be seen as positive by investors. Toyota is looking to produce 1.7 million vehicles from its BEV factory by 2030. Toyota also appears to be making good progress on the battery front. The company is developing its next-generation lithium-ion batteries which should be ready by 2026, while also looking to commercialize solid-state batteries by 2027 or 2028. Solid-state batteries help make EVs safer by avoiding the use of flammable liquids, while considerably increasing range and reducing charging time. Durability has been a huge challenge for these batteries, but Toyota indicated that it has made technological breakthroughs on this front.
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