Toyota's Electrification Strategy: Cutting Next-Generation BEV Production Processes in Half
BEV with 1,000km range to be launched in 2026, expanding battery options
2023/07/14
- Summary
- Toyota's electrification strategy: 30 BEV models to be rolled out by 2030, aiming for sales of 3.5 million units
- Next-generation BEV production technology: All solid-state batteries, giga cast, self-driving assembly line
- BEV initiatives in each region: Expanding the bZ series centering on China
- Lexus: Full-scale launch of EV strategy, all-new BEV-exclusive RZ 450e
- Expanding PHEV lineup: Available on new Alphard, Lexus TX, and other large vehicles
- Consolidated sales volume is expected to increase by 8.8% to 9.6 million units in the fiscal year (FY) ending March 2024, with higher revenue and profits
- GlobalData (formerly LMC Automotive) Production Forecast: Toyota Group’s production in 2026 will be 11.3 million units
Summary
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| The bZ Sport Crossover Concept made its world premiere at the Shanghai Motor Show in April 2023. |
This report presents Toyota's electrification strategy for the past year, focusing on passenger car EVs (electric vehicles) and PHEVs (plug-in hybrids).
In May 2023, the new BEV Factory, a dedicated organization to accelerate the development and business of next-generation BEVs (battery electric vehicles), was established. Under one leader, Toyota Motor Corporation (Toyota) will transform "cars" and ”monozukuri (manufacturing)" by integrating all processes of "development, production, and business". In June, Toyota held the "Toyota Technical Workshop" to introduce more specific technical details for the production of next-generation BEVs.
In the "Vehicle Axis," the company aims to introduce a BEV with a cruising range of 1,000km in 2026 by adopting next-generation batteries and combining hypersonic aerodynamic technology, and to commercialize all-solid-state batteries between 2027 and 2028. In the "Monozukuri Axis," the company developed giga casting, which integrally forms with aluminum die-castings what used to be made with dozens of sheet metal parts. The company also aims to develop an assembly line where cars under assembly move on their own, to realize a highly flexible factory without conveyors, and to streamline the production preparation period, production processes, and factory investments for mass-produced cars to one-half the conventional level.
In the U.S., China, and Europe, in parallel with the preparation of next-generation BEVs, the model lineup will be significantly expanded with a focus on the bZ series, which has further improved performance. Lexus launched its EV strategy in earnest in March 2023 with the launch of the EV-only model RZ and the improved UX 300e with an extended driving range of 512km. The company plans to focus more on the development of PHEVs, including extending the EV-mode cruising range to 200km or more. Recently, Toyota has announced the introduction of large PHEVs such as the new Alphard and Lexus TX.
Related Reports:
Vienna Motor Symposium 2023 (2) Powering the future: drive systems and energy (Jun. 2023)
Auto Shanghai 2023: Electric Vehicles from non-Chinese OEMs (1) (May. 2023)
Toyota: Toward Achieving Carbon Neutrality by 2050 (Mar. 2023)
JSAE Symposium: "Latest Trends in EV Technology" presentations (Mar. 2023)
Toyota's BEV Strategy: Plans for 3.5 million BEVs, including 1 million Lexus by 2030 (May. 2022)
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