Japan’s top automaker Toyota agreed Thursday to work with Idemitsu, a major Japanese oil company, on technology for mass production of solid-state batteries that promise to be a key component in future electric vehicles.
The deal is an important step for Toyota Motor Corp., which has promised to speed up its battery EV offerings and catch up after having fallen behind rivals like Tesla and China's BYD. Toyota lags partly because of its success in hybrids, like the Prius, that are equipped with both gasoline engines and battery-powered motors.
