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Toyota is boosting its ability to mass-produce “a wide variety” of EV batteries following an agreement with Panasonic to take full control of Primearth EV Energy (PEVE). The move will help Toyota respond to the growing demand for batteries.

Toyota acquires Primearth EV Energy from Panasonic

The automaker agreed with Panasonic to make Primearth EV Energy a wholly owned subsidiary Tuesday.

Toyota said the acquisition will strengthen its ability to mass produce EV batteries. It is officially scheduled for later this month.

Primearth EV Energy was established in Dec 1996 as Panasonic EV Energy. Panasonic owned 60% of the joint venture, while Toyota represented the other 40%.

In 2005, Toyota increased its stake to 60% following its expansion into hybrids. Then, in June 2010, Toyota took 80.5% ownership, leaving Panasonic with 19.5%. Tuesday’s announcement will enable Toyota to take full control of the battery company.

Toyota-affiliated companies, including PEVE, Toyota Industries Corp, and Prime Planet Energy & Solutions (Toyota 51%, Panasonic 49%), mass produce batteries for hybrids. Prime Planet also makes batteries for EVs and PHEVs, while PEVE will begin to soon.

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2024 Toyota bZ4X XLE FWD (Source: Toyota)

Toyota plans to continue working with these companies to develop and mass-produce EV batteries. The company is shifting to mass produce “a wide range” of electric vehicle batteries.

Toyota claims the move will help it “respond flexibly to growing battery demand.” Meanwhile, the automaker looks to make its electric vehicles more competitive with improved efficiency and range.

Toyota-EV-batteries
Akio Toyoda presents new EV concepts in 2021 (Source: Toyota)

Toyota to mass produce EV batteries

After discovering a “technological breakthrough” last June, Toyota claimed it was accelerating EV battery development plans.

Toyota revealed its EV battery roadmap last year, which included several different types. Due out in 2026, its next-gen batteries promise to have nearly 500 mi (800 km) WLTP driving range and 20-minute fast charging.

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Toyota small bZ electric crossover (Source: Toyota)

Toyota’s sole global EV, the bZ4X, features up to 252 miles EPA or 310 miles (500 km) WLTP driving range.

The automaker plans to launch two versions of its next-gen EV battery. A Performance is expected to feature nearly 500 mi (800 km) WLTP driving range and 20-minute quick charge at 20% less cost than the bZ4X. This is the first version, due out in 2026.

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Toyota EV battery roadmap (Source: Toyota)

Next out is the Popularisation version with over 372 mi (600 km) WLTP driving range, 30-minute quick charge at 40% less cost than its current EV. This version is due out between 2026 and 2027.

In 2027 or 2028, Toyota claims it will launch a high-performance EV battery with over 621 mi (1,000 km) WLTP driving range. It will also include 20-minute fast charge capabilities at 10% less cost than the next-gen batteries.

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Lexus electrified sport concept (Source: Toyota)

Toyota has been promising for years to launch solid-state EV batteries. The company confirmed plans to launch solid-state EV batteries earlier this year with up to 750 mi (1,200 km) WLTP range as it looks to catch up to Tesla. However, Toyota expects production to be limited, even going into the end of the decade.

Electrek’s Take

Toyota has been promising to release next-gen EV batteries for years. Its first solid-state EV batteries were due out in 2021, then in 2022. Now, it looks like mass production won’t come until 2030.

The automaker sold over 100,000 EVs for the first time last year, but that’s still less than 1% of the over 11.2 million vehicles handed over.

Meanwhile, even rival Volkswagen sold 394,000 fully electric vehicles last year, accounting for 8% of sales. And that’s at the lower end. Many automakers are already achieving well into the double-digits, if not 100%, EV sales.

Toyota insists on maintaining its hybrid sales plans, including HEVs, PHEVs, EVs, and FCEVs. The move will likely set Toyota further behind the pack as others double down on fully electric tech.

Meanwhile, Toyota’s CEO believes EVs will only account for 30% of US new car sales in 2030. The automaker said its better positioned to buy credits rather than “waste” money on EVs.

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This ‘supercharger on wheels’ brings fast charging to you

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This 'supercharger on wheels' brings fast charging to you

Mobile car care company Yoshi Mobility just launched a DC fast charging EV mobile unit that it likens to “a supercharger on wheels.”

Yoshi Mobility saw that its existing customers needed mobile EV charging in places where infrastructure has yet to be installed, so the Nashville-based company decided to bring the mountain to Moses.

“We recognized a demand among our customers for convenient daily charging, reliable private charging networks, and proper charging infrastructure to support their fleet vehicles as they transition to electric,” said Dan Hunter, Yoshi Mobility’s chief EV officer and cofounder.

The company says its 240 kW mobile DC fast charger, which can turn “any EV” into a mobile charging unit, is the first fully electric mobile charger available. It can provide multiple charges in a single trip but doesn’t detail how they charge the DC fast charger or who manufactured it. (I’ve asked for more details.)

Yoshi is launching its mobile charger on two GM BrightDrop Zevo 600s and will introduce additional vehicles throughout 2024. It aims for full commercialization by Q1 2025. (I wonder if the Zevo 600 ever charges itself? Yes, I asked that too.)

Yoshi Mobility says it’s already deployed its EV charging solutions to service “major OEMs, autonomous vehicle companies, and rideshare operators” across the US. Its initial customers are made up of large EV operators managing “hundreds” of light-duty vehicles requiring up to 1 megawatt of energy per day that don’t yet have grid-connected EV chargers. I’ve asked Yoshi for details of who it’s working with, and will update if they share that info.

The company says pricing is based on location and enterprise charging needs. Once under contract for service, the service will be deployed to US-based customers within 10 days.

To date, Yoshi Mobility has raised more than $60 million, with investments from GM Ventures, Bridgestone, ExxonMobil, and Y-Combinator in Silicon Valley.

Read more: Mercedes-Benz just opened more DC fast chargers at Buc-ee’s in Texas


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Toyota US boss says company is ‘catching up’ on electric vehicles

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Toyota US boss says company is 'catching up' on electric vehicles

Is Toyota catching up in the US electric vehicle market? Although Toyota’s US boss, Ted Ogawa, admits it’s behind Tesla, he believes the company is “catching up” on electric vehicles and new tech.

Toyota has been among the biggest laggards in shifting to fully electric vehicles. After a rocky start (including a recall) with the launch of its first EV in the US, the bZ4X, Toyota has failed to gain traction in the market.

Of the over 2.2 million Toyota vehicles sold in the US last year, only 9,329 were all-electric, or less than 0.5%.

The trend has continued this year, with only 1,897 bZ4X models sold through March. That’s less than 0.4% of the over 486,000 Toyota vehicles sold in Q1.

Ogawa says Toyota is watching customer demand for EVs rather than regulations. “However, the BEV was our missing piece two years ago, so that’s why we were very much criticized,” Ogawa explained in a new interview with Automotive News.

After building internally over the past two years, Toyota’s US boss believes the company is “catching up” on electric vehicles and new tech.

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2024 Toyota bZ4X (Source: Toyota)

Is Toyota catching up on electric vehicles?

For example, Ogawa said that Toyota headquarters is building a “very exclusive factory” for EVs.

The new “BEV Factory” will feature several new technologies new to Toyota. The company showed off its next-gen EV production line last year with Giga casting, a process made popular by Tesla.

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Mixed production at Motomachi factory (Source: Toyota)

Toyota says its “wealth of knowledge” about molds will help speed up production. The company believes it can reduce the lead time for changing molds to around 20 minutes compared to 24 hours.

Other tech like self-propelled assembly lines and robots are promised to enhance efficiency while minimizing defects.

Toyota-EV-production-line
(Source: Toyota)

Toyota also revealed new EV battery plans last summer, including two next-gen batteries due out by 2027. The first “Performance” battery is promised to feature over 800 km (497 miles) range while cutting costs by 20% compared to the bZ4X.

Meanwhile, the “Popularisation” version, due out in 2026-2027, is expected to feature over 600 km (372 miles) range at 40% lower costs.

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Toyota EV battery roadmap (Source: Toyota)

Further out (2027-2030), Toyota plans to launch a series of “further evolution” batteries, including solid-state batteries with over 1,000 km (621 mi) range and 10-min fast charge.

Ogawa believes “this is kind of the starting year of the real multipath way, like the hybrid, which we already have, and then plug-in, something between hybrid and BEV, and then BEV, which it is time to introduce to the market.”

Although Toyota is “of course” behind Tesla’s battery tech, according to Ogawa, the company is “catching up.” Ogawa said Toyota is not only catching up on EVs but “also the ecosystem surrounding the BEV area, such as the home charging or energy management.”

Electrek’s Take

Is Toyota really catching up this time? We’ve heard this several times in the past from executives.

With EVs accounting for less than 0.4% of sales in the US, Toyota will need to do more to prove it. Toyota planned to launch solid-state EV batteries in 2021 and 2022, but now we are not expected to see them hit the market until around 2028 (at the earliest).

Other tech, like Giga casting and automated production, will help improve efficiency, but new EVs are not expected to debut until 2026.

Toyota has made several investments recently to boost US production, including a $1.4 billion investment in Indiana to build a new electric SUV, separate from its promised three-row EV model.

Can new models and tech help Toyota catch up in the electric vehicle market this time? Let us know your thoughts in the comments.

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Judge rules Exxon can sue activist shareholder over climate proposal

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Judge rules Exxon can sue activist shareholder over climate proposal

Dado Ruvic | Reuters

A federal judge in Texas on Wednesday said Exxon Mobil can sue to bar a climate change proposal from an activist investor, in a case that has raised concerns about its future effect on shareholder resolutions.

U.S. District Judge Mark Pittman for the Northern District of Texas ruled that Exxon’s lawsuit can proceed against Boston-based Arjuna Capital, but dismissed the oil major’s claim against a second activist shareholder, Follow This, because the firm is based in the Netherlands.

Exxon sued the two investors in January after they submitted a proposal to be tabled at the May 29 annual shareholder meeting that called for the company to accelerate carbon dioxide emissions reductions.

Arjuna and Follow This subsequently withdrew the proposal, but Exxon proceeded with its claims against the two firms, arguing that they could file similar proposals at future shareholder meetings.

Exxon’s claims are based on Securities and Exchange Commission rules that allow companies to exclude shareholder resolutions if they deal with a matter relating to the company’s ordinary business operations, or are substantially similar to proposals offered in the past five years.

Pittman said Arjuna and Follow This were following a “Trojan Horse” model in which they aggregate enough shares in oil companies to vote and submit proposals aimed at fighting climate change.

The judge, appointed to the federal bench by former President Donald Trump in 2019, said Exxon should not be faulted for distrusting the activist investors. He said Arjuna could slightly modify its withdrawn 2024 proposal for submission to future shareholder meetings.

“Rather, the company’s position is a rational response to entities categorically opposed to Big Oil,” Pittman wrote. “Exxon is big. And Exxon is Oil. And another court has already found at least Defendant has leadership that’s ‘manifestly biased’ against Exxon.”

Arjuna, which calls itself “a sustainable investment firm that works with accredited investors and institutions to invest their assets with a lens toward sustainability,” did not immediately respond to an e-mail request from CNBC for comment.

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