International president Yoshihiro Sawa reportedly made the declaration while talking to The Detroit Bureau but stated the company is indeed working on electric vehicle technology. However, he mitigated that remark by saying, “We’ll introduce that kind of vehicle at a suitable time.”
Toyota is working on a solid-state battery to power its new electric car. The new technology will reduce the charging time and significantly increases the driving range. Toyota is planning to commercialise the solid-state batteries by 2020.
The recall covers cars from the 2013 through 2016 model years. Honda said it has four reports of engine compartment fires due to the problem but no injuries. All the fires were in states where salt is used to clear roads in the winter.
One of the major drivers for this market is decline in price of automotive batteries for electric vehicles. The size and the price of automotive batteries greatly influence the purchasing price of plug-in hybrids and new electric cars.