Toyota to spend $13.5 bln to develop electric vehicle battery tech by 2030
TOKYO, Sept 7 (Reuters) - Toyota Motor Corp (7203.T) said on Tuesday it expected to spend more than $13.5 billion by 2030 to develop batteries and its battery supply system, in a bid to take a lead in the key automotive technology over the next decade.
The world's largest automaker by volume, which pioneered hybrid gasoline-electric vehicles with the popular Prius, is moving rapidly to deliver its first all-electric line-up next year.
Considered a leader in developing batteries for electric vehicles, Toyota said it aimed to slash the cost of its batteries by 30% or more by working on the materials used and the way the cells are structured.
https://www.reuters.com/business/autos-transportation/toyota-spend-over-135-bln-ev-batteries-by-2030-2021-09-07/
Medium Term Target: A$1+ billion market cap, page-354
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