LIBERTY, N.C. – Toyota announced on Tuesday that they are currently developing a line of electric vehicles (EVs) that will debut in 2026 with next-generation batteries with ranges exceeding 600 miles, causing shares of the Japanese automaker to spike five percent in response to the news.
These new batteries will be developed and manufactured in a new facility created in May called BEV Factory, the company said.
According to a presentation on Tuesday conducted by Takero Kato, the man heading up BEV Factory, a driving range of 1,000 kilometers – the equivalent of 620 miles – is the targeted goal for Toyota’s new next-gen EV batteries; BEV Factory Is anticipating building approximately 1.7 million of them by 2030.
In contrast, the standard Tesla Model 3’s driving range is in the neighborhood of 430 kilometers – about 267 miles – with the vehicle’s long-range model able to travel up to 570 kilometers, or about 354 miles.
Toyota ‘s overall stated goal on Tuesday is to sell 1.5 million EVs every year by 2026, with that annual number anticipated to be as high as 3.5 million by 2030.
Previously, Toyota had been more reluctant when compared to other auto manufacturers to dip their toes into the EV pool, citing studies that showed that the public might not be as eager to embrace the new technology as some had first thought. However, the automaker has since announced they had discovered a technological breakthrough in terms of battery durability, and as a result are now accelerating both their EV and Hybrid EV development.
During Tuesday’s presentation, Kato said of BEV Factory that “our aim is to change the future with EVs…the next-generation battery EVs will adopt new batteries, through which we are determined to become a world leader in battery EV energy consumption.”
Christopher Boyle is an investigative journalist, videographer, reporter and writer for SEARCHEN NETWORKS® as well as other independent news and media organizations in the United States. Christopher works on a wide variety of topics and fields, has been featured in print and online in a variety of publications, from local to national, and helps keep a keen-eye on what’s happening in the automotive world for Auto Buyers Market.