![]() ![]() Shares of the world's best-selling automaker jumped 5% on the day to $15.57, the highest since August. The plan comes a day before an annual shareholders meeting where governance and strategy - including a slow pivot to battery EVs under former CEO Akio Toyoda - will be scrutinised. Toyota President Koji Sato has said the company must play catchup after falling behind in the EV sector. A hybrid recharges as the car runs, but it also has a gasoline engine in addition to an electric motor. That’s one of the main reasons Toyota has long insisted that hybrids are a better solution. ![]() By comparison, the Tesla Supercharger network offers the equivalent of 321km of charge in 15 minutes.ĮV owners usually have charging stations in their homes and keep their cars plugged in overnight to recharge. The manufacturer says an EV powered by a solid-state battery would have a range of 1,200 km and a charging time of just 10 minutes, Toyota said. By comparison, the long-range version of the lithium-ion-powered Tesla Model Y can drive for about 530km. Toyota said it would produce an EV with a more efficient lithium-ion battery offering a range of 1,000km. In its latest announcement, Toyota said it was also working on innovating lithium-ion batteries, the battery type now in most EVs, and wants to offer new affordable options. ![]() “With the evolution of the vehicle’s operating system, the next-generation battery EV will also enable customization of the ‘driving feel,’ with a focus on acceleration, turning, and stopping,” it said. ![]()
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