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Toyota reveals its plan to catch up on EV battery technology

News Snapshot:

Toyota, the world's largest automaker, has a problem. Although the company is famous for pioneering lean methods of manufacturing and being an early pioneer of hybrid electric powertrains, the switch to battery electric vehicles caught it somewhat unprepared. As rivals locked up contracts for critical minerals and formed joint ventures with battery makers (or built their own), Toyota has appeared to fall behind. Now, it has released a new roadmap showing how it will regain competitiveness and sell 3.5 million EVs by 2030. After some early experiments with electric-converted RAV4s (including a partnership with Tesla), Toyota has finally released a…

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