Toyota shares surge 5% after announcing plans for next-gen battery EVs

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Toyota shares surge 5% after announcing plans for next-gen battery EVs
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This unit, named BEV Factory, aims to roll out its 'next generation battery EVs in 2026'

said that Toyota is targeting a driving range of 1,000 kilometers for its EVs. BEV Factory aims to produce about 1.7 million vehicles by 2030, Kato said.In comparison, the Tesla Model 3 has a range of about 430 kilometers, while the long-range model has a range of about 570 kilometers.

Separately, the company is also developing a method for mass producing all-solid-state batteries for battery electric vehicles, and aims to commercialize this in 2027 to 2028. Toyota saidat a 20% improvement in cruising range for its all-solid-state batteries, compared to the current batteries.

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