The EV Holy Grail? A Battery That Can Travel 745 Miles On One Charge
An EV prototype revealed in 2023 expected to be powered by solid-state batteries. Photo by Toyota
Imagine an electric vehicle (EV), powered by a new solid-state battery, that could travel nearly 750 miles on one charge, last 30 years, and fully recharge in under 10 minutes. Could this be the Holy Grail of EV proliferation?
After taking a back seat on EV implementation over the last decade with only one EV (the strangely named 'bZ4X' SUV) in its lineup, Toyota is fixing to close the gap with Tesla by launching its new industry-busting solid-state battery technology in an expanding lineup of EVs.
Toyota was the first to launch a mass-produced gasoline-electric hybrid car—called the Prius—in 1997, and now it is working towards being the first to debut a mass-produced solid-state battery.
Breaking current EV range records, the Japanese carmaker tells us that it plans to introduce an all-new battery that can deliver up to 745 miles (1200 km) of range on a single charge. The current record-holder is the Ford Mustang Mach-E that was driven 570 miles by a British team through England on a single change.
As an integral part of its decarbonization strategy, Toyota says that its new solid-state batteries could be offered in its next-gen EVs as early as 2027. New solid-state batteries can charge in under 10 minutes
As impressive as the battery's range, Toyota and its co-developer, Japanese petroleum giant Idemitsu Kosan, explains that these batteries were also created to address one of the biggest concerns among EV users—charging time. Japan's No 1 automaker claims that its cutting-edge batteries can be recharged in 10 minutes or less which would do wonders to make EVs more practical and convenient for everyday use.
One other major plus for solid-state batteries is that they last longer than the current Lithium-ion variety. Solid-state batteries can last far longer than conventional lithium-ion batteries, potentially lasting for 8,000 to 10,000 charge cycles, compared to 1,500 to 2,000 cycles for the currently used lithium-ion batteries. This translates to a much longer lifespan, and a more sustainable option compared to traditional batteries.
While details from Toyota regarding battery longevity are scarce, researchers at Harvard University suggest that solid-state batteries could last for 30 years. Giving us a good idea of what to expect, researchers at Harvard's School of Engineering and Applied Sciences (SEAS) have developed a solid-state battery that can charge in the time it takes to fill a gasoline tank while enduring three to six time more charge cycles than typical Li-ion batteries.
This is the kind of technology we can can expect to see in Toyota's next-gen EVs when they arrive in showrooms as early as 2027. MORE FROM FORBES Forbes Nervous Tesla Owners Start Rebranding Their Cars By Peter Lyon Forbes Tesla Cybertruck Banned And Seized By Police In The U.K. By Peter Lyon
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
26 minutes ago
- Bloomberg
Triata Capital: Bullish on PDD
Sean Ho, Founder & CIO at Triata Capital, discusses why he sees further upside for PDD despite risks from US-China tensions. The US-listed Chinese e-commerce firm was Ho's investment pick at this year's Sohn Hong Kong Investment Leaders Conference. He speaks with Yvonne Man and Annabelle Droulers on "Bloomberg The China Show." (Source: Bloomberg)
Yahoo
33 minutes ago
- Yahoo
Southeast Asia's tech startups are chasing the American dream
Southeast Asian tech startups are increasingly targeting the US market for growth and opportunity. Traditionally, startups from the area focused locally, but AI is driving a shift to the US. Founders are finding that a physical presence in the US has become a necessity as business grows. Yoeven Khemlani knew he wanted to build a product for engineers like him. The Singaporean's friends told him they were spending tons of time maintaining code, web scraping, and translating their work for different markets. In July 2024, he launched JigsawStack, a company to create small models that could automate those tasks. One country — not his own — quickly became the source of his customers. "We saw a huge uptake of users and realized a lot of the early-stage customers that we got were from the US," Khemlani said. JigsawStack, which raised $1.5 million in pre-seed rounds from the venture capital firm Antler's Southeast Asia fund in October and February, is part of a growing group of Southeast Asian startups building products for US-based customers, rather than those in their backyard. For these software startups, the US's rising isolationism isn't threatening their customer base — yet. But sweeping tariffs on China may push up the cost of hardware they need to import into the US, such as servers. "Traditionally, Southeast Asian startups honed in on local or regional markets to solve unique, homegrown challenges," said Jussi Salovaara, a cofounder of Antler who leads investments in Asia. The ride-hailing apps Grab and GoJek — two of the region's best-known startups, now publicly listed — are examples of how founders in the early 2010s built for local needs. "However, as the ecosystem matures, founders are now setting their sights on the US, encouraged by a blend of opportunity and necessity," Salovaara said, adding that he'd seen more of these US-focused startups in the past three years in Southeast Asia. Southeast Asia, a group of 11 countries east of the Indian subcontinent and south of China, has seen skyrocketing economic growth over the past decade. Since 2015, the region's GDP has climbed more than 62% to $4.12 trillion, boosted by a growing middle and upper class. Between 2015 and 2021, the number of venture capital deals within the region more than tripled to 1,800, PitchBook data shows. Activity peaked in 2021 — a similar pattern to startup funding globally. This embedded content is not available in your region. Despite the region's growth, more Southeast Asia startups are choosing to focus on building products for the US, not for those around them. Founders and business experts note that the American market is more concentrated, more mature, and less price sensitive, all of which make it an attractive playing ground for new entrants. Plus, the US is leading in artificial intelligence, the major driver of today's global tech industry. "We're in an AI-first world where currently the US is at the epicenter of driving groundbreaking advancements," said Shailendra Singh, a managing director with Peak XV, the VC firm previously known as Sequoia Capital India & Southeast Asia. "This," he added, "is why we put in a lot of focus and effort on building global go-to-market operating teams in the US." And American businesses are happy to have them. "SEA startups are often positioned to offer high-quality, cost-competitive solutions that can undercut US-based alternatives, making them appealing to American businesses in need of cost-effective innovation," Antler's Salovaara said. To be sure, the model isn't unique to Southeast Asia. Nataliya Wright, an entrepreneurship professor at Columbia Business School, researched startups founded from 2000 to 2015 for a forthcoming paper on scaling. She found that software startups from small countries in Europe, for instance, typically focused on the US from the get-go. Southeast Asian countries such as Thailand and Vietnam, however, are considered midsize markets, with populations in the tens of millions. Startups from midsize markets tended to start with a local focus, assuming there would be enough customers. "A US orientation," Wright told Business Insider, "would suggest a departure from that model." Working only within the region is tough. Southeast Asia is home to a huge diversity of languages, business practices, and household incomes. "You're spending five times more because you're entering five different markets," Khemlani, the JigsawStack founder, said about working in the region. The US and tech hubs like San Francisco allow startups to find an abundance of customers in one place, or at least in one country. "We don't have the resources to do two streams of marketing," Khemlani said. Having some American customers is good for fundraising, too, said Wright, the Columbia Business School professor. This is because of a bias called "foreign discounting" — VCs based in startup hubs such as Silicon Valley overlook or undervalue startups founded elsewhere, Wright said. When foreign startups show they have US customers, it helps cancel out that bias and could give them a leg up in future fundraising rounds. VCs say founders from the region have advantages. Singh, the Peak XV managing director, said Indian and Southeast Asian startups often have an underdog mindset. "They feel a startup in Silicon Valley is more polished and has better access to capital and talent, so they want to overcompensate by working harder, learning faster, and often they're understated and very hungry for success," he said. Realfast is a Singaporean Peak XV-backed startup that builds AI agents for IT systems. Its cofounder, Sidu Ponnappa, has found that the US is the deepest market for its product. "Everything from deal velocity to deal size operates at a completely different level in the US," Ponnappa said. "Can you do the same thing for other markets? Yes, but it's always lower margin." Guan Dian, who heads the Asia Pacific operations of Patsnap, a software maker for research and development projects that's backed by Vertex Ventures, said the company's founders always thought the US would be a priority market. While the startup has customers in 50 countries, more than half of its 5,000 customers are in the US. She said the company refined its branding to emphasize AI-powered features for industries such as biotech and advanced manufacturing, which dominate US patent filings. Cost consciousness among Southeast Asian customers is another reason founders are reaching abroad. "Southeast Asia is a little bit more price sensitive, and we tend to get a bit more into negotiation," Khemlani said. Cheaper labor means local customers try low-tech solutions or building themselves first, but that's starting to change as AI models get more complex and expensive, Khemlani said. Founders don't want to fully decamp to the US, though, thanks to the ease of doing business in places such as Singapore. For startups including Multiplier, an HR platform backed by Tiger Global and Peak XV, Singapore's strong geopolitical relations with virtually every country are a big advantage over the US. "We do business with China and Taiwan, we do business with India and Pakistan, we do business with America and China," said Sagar Khatri, Multiplier's CEO and cofounder. "We've evaluated time and time again: Should we move our headquarters to America? And the answer has always been no," Khatri said. The founders who spoke with BI also touted Singapore's tax policy — it doesn't tax capital gains — and government grants for tech companies. Some startups are splitting their people, moving one cofounder to the US while the other stays in Southeast Asia. For JigsawStack, being in the US is essential for networking. Khemlani, the founder, spent six months in the US last year and moved permanently this year to scale the startup. "You can't sell to the US when you're not there," he said. "Just going for an event or a hackathon in the US makes such a big difference in your sales." Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
33 minutes ago
- Yahoo
Japan Q1 capital spending hits record but some export sectors weak
By Makiko Yamazaki TOKYO (Reuters) -Investment by Japanese companies in plants and equipment surged to a record in the first quarter led by industries focused on domestic demand, but key export sectors reduced spending in a sign that U.S. tariffs are undermining business confidence. Capital spending in January-March grew 6.4% to 18.8 trillion yen ($130 billion), according to finance ministry data on Monday. The previous record had been set in 2007. But business investment has been patchy, dipping 0.2% in the previous quarter to mark the first fall in nearly four years. On a seasonally adjusted basis, capital spending rose 1.6% during the quarter. "Capital expenditure has been driven by those sectors benefiting from strong domestic sales thanks to price hikes or inbound tourism such as hotel construction," said Takeshi Minami, chief economist at Norinchukin Research Institute. Spending for the food sector climbed 13% while the real estate sector increased spending by 11%. Tellingly, however, spending by the auto sector fell 1.4% and spending by makers of factory equipment dropped 4.1%. "After Trump's election victory in November, the tariff threat has turned some of those companies cautious about fresh investment," Minami said. The data is unlikely to have a significant impact on revised gross domestic product figures due on June 9, he added. Preliminary GDP data last month showed Japan's economy shrank by an annualised 0.7% in the first quarter, contracting for the first time in a year due to stagnant consumer spending and falling exports. Capital expenditure, a key gauge of domestic demand-led economic growth, has been generally strong in recent years as companies spent on information technology to offset a chronic labour crunch arising from the country's fast-ageing population. The brisk spending has been backed by rising corporate profits. Monday's data showed corporate sales rose 4.3% in the first quarter from a year earlier, and recurring profits increased 3.8%. U.S. tariffs, however, threaten car makers and other export-oriented Japanese firms which form the backbone of the economy. Trump imposed 10% tariffs on most imports into the United States and has also imposed 25% levies on cars, steel and aluminium. Japan also faces a 24% tariff rate starting in July unless it can negotiate a deal with Trump. According to an estimate by the Japan Research Institute, if all the threatened tariff measures against Japan were take effect, U.S.-bound exports will fall by up to 6 trillion yen a year, squeezing corporate profits by up to 25%. That would slow wage growth at manufacturers to 2-2.4% in 2026 from an increase of around 3% currently, the institute said in a report last week. That would in turn weaken the Bank of Japan's working assumption that sustained wage gains will spur domestic demand and justify raising interest rates further. ($1 = 143.68 yen)
