TM ADR US showcases the blueprint for the "next generation" battery-powered electric vehicle with a range of 1200 kilometers and 10-minute charging, causing a surge in stock prices.
TM ADR US announced that it will launch the next generation of lithium-ion batteries with longer range and faster charging starting in 2026, as well as a full range of electric vehicles equipped with these batteries. The new all-solid-state batteries planned to be launched from 2027 to 2028 will further increase the range by 20% to 1200 kilometers and reduce the fast charging time to only 10 minutes. TM ADR US rose 5% in the Japanese stock market and more than 6% in the US stock market during trading.
Japanese car giant Toyota's stock price soared after announcing a blueprint to accelerate its entry into the field of pure electric vehicles with high-performance batteries and other technologies in recent years.
On Tuesday, June 13, local time, Toyota's Japanese stock on the Tokyo Stock Exchange rose by about 5%, and Toyota's American stock on the New York Stock Exchange opened more than 5.5% higher. The stock price rose to above $159 in early trading, up nearly 6.4% during the day, and is expected to reach a new high since August last year, just like the Japanese stock market.
Earlier on Tuesday, Toyota announced that it will launch a full range of pure electric vehicles (BEVs) equipped with "next-generation" batteries from 2026. These vehicles will be developed and manufactured at Toyota's new BEV Factory, which was established in May this year.
Takero Kato, President of BEV Factory, said that the goal of the development center is to produce about 1.7 million electric vehicles by 2030. That is almost half of Toyota's annual electric vehicle sales at that time.
Toyota plans to sell 1.5 million electric vehicles per year by 2026 and 3.5 million per year by 2030, accounting for about one-third of its global sales.
In terms of batteries, Toyota's goal is to launch the next-generation lithium-ion battery from 2026, providing longer range and faster charging.
Toyota's goal is to achieve a range of 1000 kilometers for its electric vehicles. In comparison, the highest range of Tesla Model 3 is only about 675 kilometers.
Toyota said that the range of its all-solid-state batteries will be 20% higher than that of current batteries on the market. After being equipped with this battery, the higher-specification models that Toyota is developing are expected to increase their range by 50% compared to existing models.
Toyota is developing a method for mass-producing solid-state batteries for electric vehicles, with the goal of commercializing this technology between 2027 and 2028. The range of this solid-state battery will be 20% higher than that of the first-generation high-performance battery, which means that the range will increase from 1000 kilometers to 1200 kilometers.
At the same time, the fast charging time of this battery from 10% to 80% is only 10 minutes.
In comparison, Tesla's largest supercharging network can provide a charging capacity equivalent to 321 kilometers in 15 minutes.
The media believes that this may mark a further transformation of Toyota's electric vehicle strategy under the leadership of CEO Akio Toyoda, who took office in April this year. In February, Toyoda stated that Toyota will adopt a different approach to accelerate the development of BEVs.
Toyota also stated that it is developing an electric vehicle-specific platform that can reduce the cost of new models and a highly automated assembly production line to replace the traditional automobile production conveyor belt system that has been used for more than a century. In Toyota's "self-propelled" production line, cars will automatically complete the entire assembly production process. At the same time, Toyota will also use Tesla's Giga casting technology to reduce production costs.
In addition, Toyota engineers have developed a new feature for electric vehicles that simulates the experience of driving a manual transmission through the use of acceleration sounds and a fake gear lever. This feature may also appear in the new generation of Toyota electric vehicles that will be launched from 2026.