Toyota's Next-Gen Battery EVs and Solid-State Batteries Set to Revolutionize the Market
Toyota's shares surged 5% after announcing plans to introduce a full lineup of battery electric vehicles with "next generation" batteries from 2026, developed and manufactured by a new EV unit called BEV Factory. Toyota aims to produce about 1.7 million vehicles by 2030 and achieve sales of 1.5 million all-electric vehicles per year by 2026, and selling 3.5 million all-electric vehicles annually by 2030. The company is also developing a method for mass-producing all-solid-state batteries for battery electric vehicles, aiming to commercialize this in 2027 to 2028.