TOYOTA TO SLASH EV COSTS BY HALF
Targets 10% range
degradation in 10 years
Toyota on Tuesday outlined a battery-development push aimed at
slashing costs and increasing battery lifespan. The automaker plans
to spend $13.5 billion on battery development through 2030, with
the goal of reducing battery cost per vehicle by 50% over the
Toyota bZ4X, the electric crossover the automaker plans to launch
next year, CTO Masahiko Maeda said in a presentation to media and
investors.
Beginning with the bZ4X (concept vehicle shown at 2021 Shanghai
Auto show), Toyota plans to reduce the amount of electricity used
per kilometer (or mile) of driving by 30%, Maeda said. That will
allow for reduced battery capacity, which by itself should reduce
cost per vehicle by 30%, he added. Other cost reductions will be
achieved through material and battery-structure changes. Toyota is
also targeting long battery lifespans. Starting with the bZ4X, the
automaker believes it can limit range
