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[BUSINESS] · Japan · 2 sources

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Toyota to implement next-generation hybrid battery production

Toyota is planning to convert its battery production lines in Japan into next-generation systems during 2027-2028. These new batteries are expected to offer higher performance and lower production costs.

The initial annual production capacity is intended to supply batteries for approximately 600,000 hybrid vehicles. These batteries will support both Toyota vehicles and its luxury subsidiary, Lexus. The company expects to continue increasing production through at least 2030.

Toyota's leadership, including Chairman Akio Toyoda, maintains that hybrid vehicles are a better global fit than pure electric vehicles at this time, citing insufficient charging infrastructure and higher purchase prices of EVs as primary hurdles.

Entities

Akio Toyoda · Lexus · Toyota