Revolutionizing The Road: Toyota Unveils New Approach To Manufacturing

Toyota Motor Corporation TM revealed the next-generation BEV production line's preparation status, which was announced at the Toyota Technical Workshop held in June 2023.

All-solid-state batteries for BEVs are undergoing product development, and the method for mass-production is being developed with the aim of commercialization in 2027-28, the company said in a release. 

The company plans inheritance and evolution of the Toyota way of manufacturing by changing plant environments and changing the future of automobiles through human-centered manufacturing.

The company is currently working on the development line for the popularization version of next-generation batteries (bipolar lithium-ion batteries), which will be commercialized in 2026-27.

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Toyota plans to introduce a next-generation BEV production line with a new modular structure. Half of the process will involve self-propelled production, prompting significant investment.

"I believe that the strength of Toyota's manufacturing lies in increasing the speed of evolution and responding to the changes of the times," Chief Production Officer Kazuaki Shingo said.

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Toyota is also focusing on carbon neutrality in manufacturing, promoting the use of renewable energy and hydrogen in cooperation with partners in various countries, in accordance with regional characteristics.

The leading global car manufacturer is reportedly confident it can catch up with Tesla, Inc. TSLA and competitors by merging advanced technology with its renowned lean production techniques, which have historically eliminated inefficiencies and unnecessary costs, as reported by Reuters.

Also See: Tesla's 5-Millionth-Production Milestone Draws Praise From Elon Musk: 'Congratulations ... That's A Lot Of Cars'

Toyota also presents prototype equipment for the Giga casting technology, which improves the quality of castings, thereby reducing the number of defective products. 

The technology is pioneered by Tesla, which produces aluminium parts far more prominent than anything used before in auto manufacturing, the report added.

Price Action: TM shares are trading higher by 3.05% to $194.73 in the premarket on the last check Tuesday.