Popular Stories
Global Auto Makers Are Scrambling to Build Their Own EV Batteries. The Investments Are Staggering.
Toyota Motor recently hit the accelerator—don’t call it the gas—with plans to spend almost $14 billion on electric vehicle batteries by 2030. That would boost Toyota’s annual battery production to more than 200 gigawatt hours. Toyota’s goal is to cut battery costs by 50% along the way, and to sell eight million EVs by 2030—two million fully powered by batteries or fuel cells, the rest hybrid or plug-in hybrid EVs.
Toyota’s commitment of 1.5 trillion yen ($13.6 billion) adds to a growing mountain of cash for making batteries….
