QuantumScape Corporation (QS)

[WeTheMarket]

Toyota looks to charge into electric vehicle battery market with eyes on solid-state
Sep. 07, 2021 11:52 AM ET, By: Clark Schultz, SA News Editor
https://seekingalpha.com/news/3737607-toyota-looks-to-charge-into-electric-vehicle-battery-market-with-eyes-on-solid-state?utm_source=advfn.com&utm_medium=referral

- Toyota Motor Corporation (TM +0.8%) says it expects to spend more than $13.5B by 2030 to develop batteries and a battery supply system as it looks to offer all-electric versions across its model lineup next year.
- With the huge investment, the Japanese automaker aims to reduce the cost of its batteries by 30% or more by working on the materials used and also improve power consumption.
- In an initiative that sets it apart, Toyota is also leading the charge to mass produce solid-state batteries, which is called a potential game changer for automakers because they are "more energy dense, charge faster and are less prone to catching fire." The solid-state batteries could also be used for hybrid electric vehicles such as the Prius.
- One of the pure play bets on solid-state batteries is QuantumScape (QS -1.9%). The stock is called a low-risk/high-reward investment by Seeking Alpha author Sandis Weil.