Toyota Announces EV Battery Breakthrough It Says Could Halve Cost, Size
Portfolio Pulse from Bibhu Pattnaik
Toyota Motor Corp (NYSE:TM) announced a technological breakthrough that could potentially halve the weight, size, and cost of batteries, a significant advancement for electric vehicles. The company has streamlined the production of battery materials and aims to reduce charging durations and enhance driving range. Toyota plans to mass-produce solid-state batteries in EVs by 2027 or 2028. This development could help Toyota close the gap with Tesla Inc (NASDAQ:TSLA) in the electric vehicle market.
July 04, 2023 | 7:09 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Toyota's breakthrough in battery technology could potentially make it a stronger competitor to Tesla in the electric vehicle market.
If Toyota's breakthrough in battery technology leads to more competitive electric vehicles, it could potentially take market share away from Tesla, which could negatively impact Tesla's sales and revenue, and subsequently its stock price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Toyota's breakthrough in battery technology could potentially halve the weight, size, and cost of batteries, which could significantly enhance the competitiveness of its electric vehicles.
The breakthrough in battery technology could significantly reduce the cost, weight, and size of batteries, potentially making Toyota's electric vehicles more competitive. This could lead to increased sales and revenue for the company, positively impacting its stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100