Discover the exciting news with the dropping prices making EVs more accessible than ever. And learn about Toyota’s groundbreaking battery technology that promises to usher in a new era for electric vehicles.
Toyota’s Groundbreaking Battery Technology Promises a New Era for Electric Vehicles
Toyota is revolutionising the electric vehicle (EV) landscape with new battery technology that offers an astounding range of up to 932 miles (1,500km). Discover their ambitious plans for the next five years, including enhanced battery performance, reduced costs, and faster charging times.
In an exciting announcement, Toyota has unveiled its future plans for electric vehicles, promising a significant leap in battery performance. Over the next five years, the automaker aims to introduce cutting-edge battery technology that will revolutionise the EV industry.
By 2026, Toyota plans to introduce new battery technology that offers an impressive range of 621 miles (1,000km). Achieving this milestone involves increasing the energy density of the battery, reducing weight, and optimising vehicle aerodynamics. These advancements will contribute to reducing costs by 20% to the current bZ4X model. And, Toyota aims to achieve quick charge times of 20 minutes or less.
Toyota is also developing low-cost batteries to accelerate the adoption of battery electric vehicles (BEVs). One such battery, known as the bipolar structure battery, has already been utilised in the Aqua and Crown hybrid vehicles.
This technology will be extended to BEVs, utilising lithium iron phosphate (LFP) and offering an estimated range increase of 20% to approximately 375 miles with just 30 minutes of recharging from 10-80%.
However, the true game-changer on the horizon is the development of all-solid-state batteries. The company is actively working towards mass production and aims to commercialise this technology by 2027-2028. These batteries are projected to deliver a 20% improvement in range and an astonishingly quick charge time of 10 minutes or less for 10-80% charge potentially providing Toyota’s BEVs with an exceptional range of up to 745 miles.
Toyota is also developing a higher-level specification battery that targets a 932-mile range. Takero Kato, President of the new Toyota EV unit BEV Factory, expressed his vision for the future, stating, “What we want to achieve is to change the future with BEVs.” Toyota aims to launch its next-generation battery EVs globally, offering a comprehensive lineup of vehicles by 2026.
Used Electric Vehicle Market Surges with Dropping Prices, Making EVs More Accessible
There is good news for UK car buyers as the used electric vehicle market experiences a drop in prices. With an 18.6% decrease in May, this shift is driven by the increase of EVs in the second-hand market.
This has happened against inflation which has been driving most car prices to record highs which have been particularly relevant for electric vehicles. However, prices in the used EV market have recently seen a decline.
Data from the Auto Trader Retail Price Index show that used car prices in the UK rose slightly by 2.8% in May, but EV prices experienced a dramatic drop of 18.6%. With the surge in popularity of EVs over the past few years, the availability of high-quality used EVs is steadily increasing, which results in a better and more competitive used market.
Sites like Auto Trader currently list around 15,000 used EVs and almost one-third of these are under £20,000. Demand is on the rise too, driven by the increasing affordability of used EVs. Some electric models with petrol counterparts are now priced lower on the used car market.
With dropping prices and an expanding selection of used EVs, the dream of owning an electric vehicle is becoming more attainable for UK car buyers. The used EV market offers a wealth of options, and with the Tesla Model 3 leading the way, EVs are becoming increasingly accessible, appealing to a wider range of consumers.
