Toyota to spend $13.5 bln to develop electric vehicle battery tech by 2030

Employees walk at the Toyota Motor Corp new plant in Apaseo El Grande in Mexico’s central state of Guanajuato, Mexico February 6, 2020. REUTERS/Sergio Maldonado

TOKYO, Sept 7 (Reuters) – Toyota Motor Corp (7203.T) said on Tuesday it expected to spend more than $13.5 billion by 2030 to develop batteries and its battery supply system, in a bid to take a lead in the key automotive technology over the next decade.

The world’s largest automaker by volume, which pioneered hybrid gasoline-electric vehicles with the popular Prius, is moving rapidly to deliver its first all-electric line-up next year.

Considered a leader

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