In a surprising move, Toyota and Hyundai have announced a joint venture to co-develop and manufacture solid-state batteries for electric vehicles. The partnership, valued at $6.8 billion, aims to begin mass production by 2028 at a new factory in Kentucky.
Solid-state batteries promise significantly higher energy density, faster charging times, and improved safety compared to current lithium-ion technology. Both automakers have been independently pursuing the technology for years but determined that pooling resources would accelerate commercialization.
Industry analysts say the partnership could reshape the competitive landscape, giving both companies a significant edge over rivals still relying on conventional battery chemistry.
