![]() ![]() Durability has been a huge challenge for these batteries, but Toyota indicated that it has made technological breakthroughs on this front. Solid-state batteries help make EVs safer by avoiding the use of flammable liquids, while considerably increasing range and reducing charging time. The company is developing its next-generation lithium-ion batteries which should be ready by 2026, while also looking to commercialize solid-state batteries by 2027 or 2028. Toyota also appears to be making good progress on the battery front. Toyota is looking to produce 1.7 million vehicles from its BEV factory by 2030. Toyota is known for its manufacturing efficiency and processes with internal combustion engine-based cars, and the company’s specific plans for EVs could be seen as positive by investors. ![]() While Toyota is developing a dedicated EV platform to help cut costs, it is looking to deploy a highly automated manufacturing process at a new EV unit called BEV Factory, established last month. The company is focusing on two key areas - namely manufacturing and battery technology. More specifically, Toyota, which is viewed as a laggard of sorts in electric vehicles, provided a more detailed roadmap of how it intends to compete in the fast-growing EV market. Easing commodity prices and supply chain-related issues are also helping automotive stocks in general. Now the broader Japanese stock market indices have been among the best-performing in the world driven by corporate governance overhauls and an increasing focus on shareholder returns. The stock also remains up by about 19% year-to-date in 2023. Toyota Motor Corp stock has seen a big rally recently, rising by about 15% over the last month. (Photo by Bob Kupbens/Icon Sportswire via Getty Images) Icon Sportswire via Getty Images Toyota sponsor banner during the NASCAR Cup Series Toyota / Save Mart 350 on Jat the Sonoma Raceway in Sonoma, CA. SONOMA, CA - JUNE 11: Martin Truex, Jr (#19 Joe Gibbs Racing Bass Pro Shops Toyota) drives past the. ![]()
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