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As most automakers understand, creating an exceptional electric-hybrid vehicle requires two key elements: a striking design and a battery that is both efficient and long-lasting. For decades, the go-to choice for electric vehicle batteries has been nickel-metal-based. However, the future of battery technology lies in lithium, a lightweight metal found in the Earth that's growing increasingly valuable due to its unique chemical properties. Lithium has already proven its worth in powering devices like laptops and smaller appliances. Thanks to recent technological breakthroughs, automotive engineers can now incorporate this highly reactive and lightweight metal into car batteries. Recognizing its immense potential, Toyota is securing larger quantities of lithium, enabling them to develop cleaner and more efficient vehicles. Additionally, with enhanced battery technology, more Toyota components could soon operate using lithium-ion batteries.
One way Toyota ensures access to lithium is through its subsidiary, Toyota Tsusho Corp. Recently, Tsusho partnered with Orocobre Ltd., an Australian mining company, to establish a comprehensive lithium extraction operation in Argentina. This initiative, expected to cost around $100 million, aims to supply vast amounts of lithium for battery production. Such efforts will not only make new plug-in models like the 2012 Prius feasible but also ensure their effectiveness.
Given Toyota’s already substantial presence in the hybrid market, these lithium battery innovations and mining ventures will unlock numerous opportunities for progress. Toyota has announced plans to double its hybrid vehicle production annually. When the large-scale mining project kicks off in 2012, Toyota anticipates the mine will yield approximately 15,000 metric tons of lithium carbonate per year. Most of the world’s lithium originates from South America, indicating significant untapped potential there. Large reserves already exist in Chile and Brazil.
Toyota’s strategic investments in lithium-ion battery technology and mining operations represent a bold move toward sustainability and innovation. As the global demand for electric vehicles continues to rise, Toyota is positioning itself at the forefront of this transformative industry. By leveraging partnerships and advancing battery technology, Toyota is paving the way for a greener future, one powered by lithium-ion batteries.
In addition to these efforts, Toyota’s commitment to hybrid technology extends beyond just manufacturing. They are actively exploring ways to integrate renewable energy sources into their production processes, further reducing their carbon footprint. This holistic approach underscores Toyota’s dedication to environmental responsibility and innovation. With such forward-thinking strategies in place, Toyota remains poised to lead the charge in sustainable transportation, setting a benchmark for others in the industry to follow.