Posted September 10, 2021
By Aaron Gentzler
Toyota Targets Battery Technology
Dear Rundown reader,
On Tuesday, the biggest automaker in the world announced it would invest $13.5 billion in battery technology over the next eight years.
“[Toyota] which pioneered hybrid gasoline-electric vehicles with the popular Prius, is moving rapidly to deliver its first all-electric line-up next year,” says an article at Reuters.
“Considered a leader in developing batteries for electric vehicles, Toyota said it aimed to slash the cost of its batteries by 30% or more by working on the materials used and the way the cells are structured.”
And the holy grail for Toyota engineers is a solid-state car battery…
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Your Rundown for Friday, September 10, 2021...
Toyota Targets Battery Tech
According to MotorTrend: “[Toyota] has a long-standing policy of keeping battery development and production in-house… and its solid-state battery tech is no exception.”
Reuters reports: “Toyota’s target [is] to begin manufacturing solid-state batteries by the mid-2020s.”
“We are still searching for the best materials to use,” admits Toyota’s Chief Technology Officer Masahiko Maeda. Albeit, the company’s still considered the “front-runner to mass-produce solid-state batteries.”
Not an easy task, J.D. Power concludes: “For all its benefits, scaling up production to the level needed for usage in EVs remains an expensive endeavor.” Add to that, solid-state batteries “are prone to crack when they expand and contract during use,” Reuters says.
But regardless of manufacturing and design issues, Motor Trend forecasts: “The global market for next-generation batteries (those that perform better than existing lithium-ion batteries) is expected to grow from $39 million this year to $413 million in 2025, $3.1 billion in 2030 and $25.2 billion in 2035.”
Market Rundown for Friday, Sept. 10, 2021
The S&P 500 index is stuck in neutral at 4,493.
Oil’s up over 2% this morning to $69.64 for a barrel of WTI.
Gold is down $3.70 to $1,796.60 per ounce.
And at the time of writing, Bitcoin’s down 2% to $45,735.
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Enjoy the weekend… We’ll be back Monday.
For the Rundown,
Editor, The Rundown