Carlos Tavares, the CEO of Stellantis, acknowledges the challenging landscape that the company faces. With the competition from Chinese automakers offering cars that are 25% cheaper and the requirement of investing billions in electrification, Stellantis finds itself in a brutal scenario. These Chinese carmakers have set their sights on European markets, including the UK, with a focus on electric vehicles, putting companies like Stellantis and Volkswagen at a disadvantage.
In a recent breakthrough, Toyota has made significant progress in the development of solid-state batteries. These batteries, which are about half the weight, cost, and size of current liquid EV cells, address a major concern in the efficiency of electric cars. Even with moderately sized motors, the weight of batteries alone can reach two tonnes. Toyota aims to have these breakthrough cells powering cars by 2025 and has made strides in mass manufacturing them.
This development comes after a series of false starts in Toyota’s pursuit of becoming a leading EV manufacturer. In December, Akio Toyoda, the company’s president and grandson of its founder Kiichiro Toyoda, revealed that many top executives are hesitant to express their honest thoughts about EVs due to the pressure to go green. He mentioned a “silent majority” of car companies that are skeptical that electric vehicles alone can completely replace fossil fuels.
Despite this skepticism, Toyota recently launched six new electric models, indicating a shift away from a previous focus on hydrogen as the fuel of the future. The advancements in solid-state batteries demonstrate Toyota’s commitment to embracing electrification.
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