Toyota's Solid-State Gamble: A Genius Leapfrog or a Desperate Catch-Up?
Toyota aims to leapfrog EV rivals with solid-state batteries by 2028, betting on safer, faster-charging tech to regain ground lost to Chinese dominance—but the success of this late, high-risk play depends on timely, cost-effective execution.
For years, Toyota has been viewed as a reluctant participant in the all-electric vehicle revolution. While competitors raced to launch new battery electric vehicles (BEVs), the Japanese giant seemed to be dragging its feet, earning criticism from environmental groups and EV enthusiasts alike.
A recent announcement signals a potential paradigm shift in its strategy, a high-stakes bet that could either redefine the market or cement its status as a laggard. In early October, Toyota announced a joint venture with Sumitomo Metal Mining to mass-produce cathode materials for solid-state batteries, with plans to launch cars featuring this breakthrough technology by 2027 or 2028.
Author's summary: Toyota bets on solid-state batteries to regain EV market ground.
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