Toyota hopes to be the first automaker. Next year, the company is going to present its first electric car with a solid-state battery. Curiously enough, the carmaker has long been slow to adopt EVs into its lineup. However, now, the company has far-reaching plans. Thanks to this technology, the automaker wants to get ahead of Tesla, as well as become an undisputed leader in this sector.
The power of the battery developed by Toyota is enough to cover a distance of about 500 km without a single stop. Moreover, according to the manufacturers, it will take only 10 minutes to fully recharge the car. It means that the power reserve of such vehicles will be almost twice as high as cars with lithium-ion batteries that have already managed to gain popularity in the market. In addition, it will have a standard size body.
However, Tesla is not going to give up easily. Its market value is already estimated at more than $600 billion. Amid such a surge, the company has broken a new record, becoming the sixth-largest company included in the S&P 500 index.
Only in 2020, while other big corporations suffered big losses, Tesla securities jumped by as much as 667%. Nevertheless, Elon Musk does not intend to rest on the laurels. He urged employees to be prepared for an unexpected stock crash. Such a measure should force employees to focus on maximizing profits and minimizing costs. Tesla is a tough nut to crack. So, it is quite interesting to watch the battle between the two companies for market dominance.
