Energy
Solid State Batteries Set to Hit EVs in 2027 as Toyota Perfects Next-Gen Tech
Toyota has recently announced a significant development regarding its new solid-state battery technology for electric vehicles (EVs). This innovative technology, which is expected to be introduced in a model by 2027, could revolutionize the EV market by offering up to 900 miles (1,448km) of driving range and reducing charging times to just 10 minutes. While it touts that these metrics are due to a breakthrough in material sciences surrounding a ‘quality material', the company does not specify exactly what it is, or how it will be utilized.
Toyota Motor Corporation (NASDAQ: TM)
Toyota is a globally recognized automotive manufacturer that is renowned for its diverse range of reliable vehicles which often boast innovative technology alongside its goal of sustainability. The company has recently made significant strides in the electric vehicle (EV) market, after pioneering hybrid technology with the Prius years ago. Now, it is leading in the development of solid-state battery technology as it works towards fulfilling its commitment to a sustainable future.
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At the time of writing, Toyota Motor Corporation (TM) boasted the above metrics and is listed as a ‘Buy' among most major investment firms.
What Makes a Solid-State Battery Better?
A solid-state battery is a type of battery technology that uses solid electrodes and a solid electrolyte, instead of the liquid or polymer gel electrolytes found in lithium-ion or lithium polymer batteries.
With regards to electric vehicles (EVs), solid-state batteries are seen as the future. As such they are expected to afford significant leaps forward in each of the following areas.
- Energy Density: Solid-state batteries can potentially hold much more energy than conventional lithium-ion batteries. This could lead to EVs with a significantly longer range.
- Safety: The solid electrolyte isn't flammable, unlike the liquid electrolytes in lithium-ion batteries, reducing the risk of battery fires.
- Longevity: Solid-state batteries may be able to withstand more charge/discharge cycles than lithium-ion batteries before they start to degrade, meaning they could last longer.
- Fast Charging: Solid-state batteries could potentially be charged more quickly than current lithium-ion batteries.
While Toyota aims to mass-produce its solid-state battery from 2027-2028, some skepticism remains due to the company's history of delayed timelines. Nonetheless, the potential impact of this technology on the EV market and the environment is undeniable.
Toyota Playing the Long Game
In addition to the solid-state battery, Toyota plans to introduce two other next-generation battery types in 2026 and 2027, labeled as “performance” and “popularized.” The performance version, promises a 20% increase in driving range and a 20% cost reduction, while the popularized version will offer the same range benefits but with a 40% cost reduction.
Despite the potential of solid-state batteries, scaling up production for mainstream EVs has been a challenge. However, Toyota's claims of a breakthrough that will make solid-state batteries easier to produce than their lithium counterparts is a promising sign. Such advancements could be a significant step towards making EVs more accessible and affordable.
The Implications
The new technology could lead to lower prices and less time spent at charging stations for consumers, alleviating the common concern of range anxiety. Moreover, with EVs emitting significantly fewer greenhouse gases than conventional cars, the widespread adoption of this technology could have substantial environmental benefits.
Furthermore, the implications of Toyota's innovations extend beyond the automotive industry. In the coming years, we can expect to see everything from ATVs to generators, chainsaws, mowers, boats, and more, all reliant on electric motors as opposed to gas engines. Each and every use case has the potential to benefit from solid-state batteries in the same way that EVs can. However, with the first solid-state batteries not expected to be mass produced until 2027, it may be a few years longer until the technology trickles down to such consumer goods.
Alternative R&D
While it is certainly promising to see that companies like Toyota are hard at work, developing battery technology that should be a huge leap forward for EVs, it is by no means the only company doing so. For example, there is QuantumScape – a Californian company dedicated specifically to the development of solid-state batteries. Below, the company explains the major challenges faced by developers and what they are doing to circumvent them.
Another company that has announced breakthroughs in solid-state battery development over the past few months is none other than Honda, which, like various other manufacturing giants, has also committed to building its own battery plant in the United States.
