Toyota pledges $18.3 billion to investments in battery tech by 2030

Outlining its plans for a carbon-neutral future, Toyota has sent a strong and clear signal that it is embracing the electrification of the automobile industry. It announced in a virtual media briefing on 7 September 2021 that it will pledge $18.3 billion towards investments in battery manufacturing and technology for both hybrid and electric vehicles.

Making reference to its reputation for reliability (while perhaps also taking aim at other EV manufacturers), the carmaker stressed that its primary goal is to manufacture safe batteries which will have a long service life - batteries that customers "can use with a peace of mind". Charging speeds, while important, will not be the be all and end all of the design process. 

Toyota’s latest announcement is particularly significant because it comes barely three months after The New York Times revealed that it had been quietly pushing the U.S.A Congress to slow the shift towards fully-electric vehicles. 

The Japanese giant was the definitive pioneer in hybrid vehicle manufacturing, with its first Prius coming out in 1997, but has been notably slow in its uptake on full-electric vehicles, instead favouring its hybrids - a decision which has been criticised.

With its latest, high-budget pledge towards battery technologies, it is likely that things are changing, as Toyota reaffirms its position as a leader in the automotive world.