The car manufacturing firm Toyota is reported to be working on an electric car powered by a new type of battery that significantly increases driving range and reduces charging time to just a few minutes. It therefore overcomes one of the largest obstacles still facing the fast developing market. The vehicle will not be on sale until 2022, so there is much focus on the competition for their next move.
Craig Erlam, a markets analyst can see a huge change coming across the whole industry, stating that “There’s going to be a number of stronger competition from other brands over the course of the next five to 10 years. And I think what Toyota is doing is trying to get itself back in the game and even possibly a step ahead.”