Toyota’s WINNING the Race to Solid State Batteries
Toyota Motors and Panasonic agree to create a joint venture to produce solid-state batteries for cars, which will have 50 times the capacity of existing storage devices.
The Nikkei Asian Review reports that 51% of the joint venture is owned by Toyota, with a partner holding the remaining 49%. Panasonic is slated to hand over its five battery factories in Japan and China to the joint venture. Next Generation Mass Release Scheduled for Early 2020s.
The world’s giants are joining forces to develop efficient solid-state lithium batteries, which are not yet commercially available because of the huge investment and technical excellence required. It is reported that their energy capacity will be 50 times that of the batteries currently used in hybrid cars. In theory, they should also be lighter and safer than existing lithium-ion devices..
The prime cost of innovative products is planned to be reduced by increasing production volumes. The project will initially be supported by Toyota’s electric vehicle technology partner Mazda Motor, its subsidiaries Daihatsu Motor and Subaru, and Honda Motor, which is partnering with Panasonic..
Toyota has been working on solid-state battery technology since 2017, which it hopes to commercialize by 2022. Panasonic has extensive experience in this area and has partnered with Tesla Gigafactory.
Although Toyota executives believe that hydrogen fuel cell vehicles are more promising than electric vehicles, they made the decision to keep up with the competition. The manufacturer plans to triple the sales of electric vehicles by 2030 and reach an annual sales of 5.5 million units..
We also previously reported that Honda has developed a new type of battery that stores 10 times more energy than lithium..
text: Ilya Bauer, photo: Getty Images