Toyota Set To Launch Solid-State Battery Vehicles In About Two Years: Report
Portfolio Pulse from Shivani Kumaresan
Toyota Motor Corp (NYSE:TM) is planning to launch vehicles with advanced solid-state batteries in about two years, aiming to compete with EV leaders like Tesla Inc (NASDAQ:TSLA) and BYD Company (OTC:BYDDY). These batteries are expected to charge faster, have a longer life, and provide a driving range of 1,200 kilometers. Toyota collaborated with Idemitsu Kosan for development and targets commercialization between 2027 and 2028. Maruti Suzuki, a subsidiary of Suzuki Motor and Toyota's partner, will export its first battery EV to Japan and Europe. Toyota's stock (TM) saw a slight increase of 0.64% to $193.95.
January 11, 2024 | 4:28 pm
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NEGATIVE IMPACT
Toyota's upcoming solid-state battery vehicles are set to challenge BYD's position in the EV market.
As Toyota aims to catch up with Chinese EV manufacturers like BYD, the introduction of advanced battery technology could lead to competitive pressures on BYD, potentially affecting its stock price negatively in the short term.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Toyota's move to launch solid-state battery vehicles may increase competition for Tesla in the EV market.
Toyota's entry into the solid-state battery space could pose a threat to Tesla's market dominance, potentially impacting Tesla's stock negatively in the short term due to increased competition.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Toyota is advancing in the EV space with solid-state battery technology, aiming to launch vehicles in two years and commercialize by 2027-2028.
The announcement of Toyota's solid-state battery vehicles positions the company as a more competitive player in the EV market, which could lead to increased investor confidence and a potential rise in stock price in the short term.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 90