Kolkata, India: Japanese auto giant Toyota announced Tuesday that by 2030, it will invest $13.6 billion in batteries for electric and hybrid automobiles, as the world’s largest automaker strives to become carbon-neutral.
In a string of announcements made between 2020-2021, several automakers have vowed to slash down carbon emissions and go fully neutral in the next five to ten years.
In a presentation, the Japanese automaker stated that it planned to invest 1.5 trillion yen in the research and supply of batteries for electric vehicles, with the goal of halving battery costs per car by 2030, AFP reported.
Toyota announced in June that it would strive to be carbon-neutral by 2035, rather than the previous target date of 2050.
How Toyota plans to achieve carbon neutrality?
One method the corporation plans to achieve its goal is to introduce new technologies for painting vehicles, which is one of the most energy-intensive processes in the industry, such as replacing paint with adhesive film.
Toyota is a pioneer in hybrid vehicles and hydrogen-fueled automobiles, and it is also accelerating its development of battery-powered electric vehicles.
In October, Japan’s Prime Minister Yoshihide Suga set a deadline of 2050 for the world’s third-largest economy to become carbon neutral, reaffirming the country’s climate-change pledges.
Following the disaster at the Fukushima nuclear power plant in 2011, the country has struggled to reduce carbon emissions.
Toshiba announced in November that it would stop building new coal-fired power facilities and instead focus on renewable energy to minimize greenhouse gas emissions.
(With agency inputs)