Toyota Motors 13.5 Billion Dollar-Solid State Gamble
13.5 Billion Dollars. Let that sink in. No matter how you slice it apart, that is a lot of money, and Toyota is dedicating it to bringing a new wave of battery technology to the forefront- solid-state. In this article, we will take a look at solid-state tech, where Toyota is putting its investment, and why this is a gamble.
What Is Solid-State Battery Technology?
Solid-state battery technology is hailed to be the new link to our battery-driven future. With faster charge times, reduced cost, and better energy density, this technology could propel us into the future we dreamed about decades ago.
Solid-state research has been going on for several years, with issues revolving around cracking when the batteries are under stress or load. Solid-state batteries are currently the "next best" battery technology.
Why Is Toyota Putting Their Money Into Solid-State?
It is noteworthy that Toyota does not make big moves unless they are confident what they are doing is valuable.
Toyota went big when they introduced the Prius back in 1997, and that winning bet has placed them as the leader for hybrid technology.
Toyota has done significant research and development with solid-state tech to make such an important announcement.
If Toyota pulls this off, which they did when Prius came to light, they will reign as the world leader in the automotive sector.
Why Is This A Gamble?
A 13.5 Billion Dollar investment better be a sure one. With as much data as Toyota has, you would think they would be all in doing EVs like many other vehicle manufacturers.
I think that Toyota has felt their hand is forced into adopting EVs, and now they want to play the game that Tesla Motors started back in 2007.
The demand for electric vehicles is surging with little to deter the most significant manufacturers from stopping. It is now a race to see who can do it and take part in the market that Tesla dominates.
Toyota must make a vehicle that is as attractive and desirable as what Tesla offers. They must also compete with Ford and other startup companies for this same market share. It is risky, but this is Toyota we are talking about.
Part of that 13.5 billion dollar investment is also to help build a supply chain for manufacturing. With the target of 2030 to have an electric vehicle lineup and supply chain in place, Toyota has some serious groundwork to do. Or is all of that completed and they are now taking this step?
Eight years is quite a bit of time, but in all honesty, we are talking about a massive shift in how we look at the world of transportation.
That is all for today. Remember, Today's Adventure is Tomorrow's Story.
Breaking: Toyota is now road testing solid state EV car.
Check out this wild new battery tech that Tesla has and why it will forever change the auto industry.
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Peter Neilson is an automotive consultant specializing in electric cars and hybrid battery technologies. He holds a Bachelor of Science in Automotive Service Technology from Weber State University. Peter can be reached on Linkedin and you can tweet him at The_hybrid_guy on Twitter. Find his page on Facebook at Certified Auto Consulting. Read more of Peter's stories at Toyota news coverage on Torque News. Search Toyota Prius Torque News for more in depth Prius coverage from our reporter.