Page 12 - AsiaElec Week 05 2023

AsiaElec BATTERIES AsiaElec

Japanese car giant reluctant

about move into battery tech

JAPAN AFTER years of avoiding the issue, leading Jap- notably Honda’s recent $4.4bn tie-up with South
anese automaker Toyota last week admitted the Korean electronics firm LG.
future is electric. Toyota’s own EV plans, meanwhile, will
In doing so, despite having sold only around include a significant funding increase from
14,000 electric vehicles (EVs) globally last year, $1.3bn to $3.8bn to boost production at an exist-
a fraction of the numbers sold by their major ing plant in North Carolina.
competitors, the world’s biggest car maker has Hydrogen cell development by the firm is also
announced plans to invest a total of $5.6bn in EV being seen by some as Toyota recognising it has
battery production. missed the boat on EV and BEV development, but Toyota will
Facilities will be built in both Japan and the that it can get one step ahead by moving straight
USA. into the development of hydrogen-powered vehi- continue to
A somewhat lukewarm company statement cles of the future.
on the decision to boost battery production This idea was reinforced when the US state of make every
said: “Toyota believes that there is more than California, one of the leading markets for Toyota
one option for achieving carbon neutrality. It in recent decades, declared in January that all effort to flexibly
also believes that the means of reducing CO2 internal combustion engine powered vehicles meet the needs
emissions as much as possible and as quickly as would be banned by 2035.
possible while protecting the livelihoods of its The only emissions then permitted would be of its various
customers vary greatly depending on the coun- water, once source said.
try and region.” Toyota’s statement closed “(W)ith such in customers in all
As such, while remaining somewhat cool mind, Toyota will continue to make every effort
on committing fully to EV and battery produc- to flexibly meet the needs of its various customers countries.
tion, the firm is making a financial commitment in all countries and regions by offering multiple
finally comparable to that of its international powertrains and providing as many options as
rivals towards the future of clean motoring; most possible.”™

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