Toyota to invest $13.3bn in electrified vehicle batteries by 2030

Toyota plans ten all-electric vehicles worldwide by early 2020s

Toyota to invest $13.3bn in electrified vehicle batteries by 2030

Japanese auto major Toyota today said it will launch more than ten battery electric vehicles by early 2020s starting in China, with India to be among the first markets along with the USA and Europe besides its home turf.

Toyota Motor announced on Monday that it plans to invest 1.5 trillion yen ($13.3 billion) in the development and production of batteries for electrified vehicles by 2030, as well as phase out models which are only available with internal combustion engines by around 2025.

Terashi said Toyota's EVs will also later be offered in Japan, India, the US and Europe.

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Reuters cited Mr Toshihiro Suzuki, Suzuki Motor Corp's president as saying that the Japanese automaker will not join efforts by Toyota Motor Corp and Panasonic Corp to develop batteries for electric vehicles, but a supply deal could be possible.

The FCEV line-up will be expanded for both passenger and commercial vehicles in the 2020s, it added.

Under the accelerated plans, Toyota hopes to have every model in the Toyota and Lexus lineups either be a dedicated electrified auto or offer an electrified option by 2025. No new model will be developed without an electrified powertrain from now on, in an attempt to facilitate the achievement of that goal.

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FILE PHOTO: A staff member plugs a charger cable into Toyota's i-Road electric vehicle in Tokyo, Japan April 9, 2015.

The partners had said they also meant to conduct a comprehensive study of activities for widespread acceptance and popular use of EVs in India. By about 2030, it hopes to sell 5.5 million electrified vehicles a year.

The other side of widespread pure-EV adoption is, as you might imagine, having the infrastructure to support it. Battery reuse and recycling practices will be in the spotlight, while there are also plans to promote hydrogen fuelling and electric charging stations by collaborating with the right partners.

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This is published unedited from the PTI feed.

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