Toyota Plans to Sell 5.5 Million EVs Annually by 2030
Toyota has dissolved a battery r&d relationship between itself and Tesla. At issue is both company’s involvement with shared battery supplier Panasonic.
The split is because Toyota is jumping on the EV bandwagon big time. Toyota has set a goal for 2025. In addition to traditionally fueled versions, every Toyota and Lexus model will be available in at least one electric version be it hybrid, fuel cell, or fully electric.
When it comes to hybrids and full EVs Toyota’s objective is ambitious. For the last 20 years sales of alternatively powered Toyotas has averaged 550,000 units annually. The company thinks it can increase its yearly electric car sales ten-fold by 2030.
Toyota seems to have been dragging its feet when it came to offering fully electric vehicles. Now that developing and marketing all-electric vehicles is all the rage among its competitors Toyota apparently decided it was time to catch-up.
In the US, the company’s primary focus will be on gas/electric hybrids. Hybrid models like the Prius have sold well for Toyota in the past. Additionally, unlike charging stations and hydrogen pumps there is an abundance of gas pumps in every state.
Back to the issue between Toyota and Tesla. The prismatic batteries that Panasonic will make for Toyota have multiple advantages over the cylindrical batteries Panasonic currently produces for the other T. As long as there is not battery research and development alliance between the two companies, Tesla will not be able to purchase the improved batteries from Panasonic.