Toyota has unveiled a range of innovative technologies that could transform the future of their cars, with the aim to become a mobility company. These advancements include next-gen battery EVs, hydrogen fuel cells, and Giga Presses for efficient manufacturing. Toyota’s BEV Factory is planning a full lineup of electric vehicles by 2026, targeting a 1,000 km driving range. Toyota also continues its, up until now unsuccessful, hydrogen business strategy. They expects fuel cell market expansion to 5 trillion yen/year and external sales of 100,000 fuel cell units by 2030.
Playing catch-up in the EV market
Despite being the largest vehicle manufacturer in the world, Toyota has been lagging behind competitors such as Tesla, BYD, and Hyundai in the electric vehicle (EV) space. While the company has been researching hydrogen vehicles since the 1990s, they have not yet achieved significant market share with their hydrogen fuel cell technology. However, Toyota’s recent announcements signal a bold new direction to close the gap with their rivals.
Revolutionising vehicle production with Giga Presses
Toyota, along with other automakers like GM, Hyundai, and Volvo, is turning to Giga Presses to revolutionise car manufacturing. These high-pressure aluminium die casting machines can build cars faster and more efficiently, cutting costs up to 40% in some areas. Tesla pioneered the use of Giga Presses for vehicle underbodies, streamlining production, and now Toyota is following suit. However, critics argue that this process poses quality and flexibility risks, as a single flaw could compromise the entire module and make fixing difficult.
A new era of battery technology
Toyota’s new BEV Factory, established in May 2023, has ambitious plans for the next generation of battery technology. They aim to launch high-performance solid-state batteries for EVs by 2026, targeting longer driving ranges and quicker charging times. The company’s goal is to commercialise these batteries in 2027-2028 and achieve a driving range of 1,000 km for their EVs, in stark contrast to Tesla Model Y’s long-range version, which has a 530 km range. Toyota’s BEV Factory plans to produce 1.7 million vehicles by 2030, which would amount to half of Toyota’s 3.5 million EVs target.
A renewed focus on hydrogen fuel cells
Despite past setbacks, Toyota remains committed to hydrogen fuel cell technology and has outlined a new business strategy for this sector. The company expects the fuel cell market to expand rapidly, reaching 5 trillion yen per year, and aims to achieve external sales of 100,000 fuel cell units by 2030, focusing mostly on commercial vehicles. Toyota’s Hydrogen Factory was established in July 2023, centralising sales, development, and production under one leader to facilitate quick decision-making.
Toyota’s commitment to a sustainable future
Toyota’s recent announcements reflect their commitment to achieving zero negative impacts on people and the environment by focusing on the United Nations’ Sustainable Development Goals and adhering to their Guiding Principles. As a mobility company, Toyota seeks to create and provide greater value for improved lives and society through connected, automated, shared, and electrified technologies. With these bold new steps, Toyota aims to reaffirm its position as a global leader in automotive innovation and sustainability.
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