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Toyota will roll out solid-state battery EVs globally in a couple of years

GANDHINAGAR, India — Japan's Toyota Motor will in a couple of years globally launch vehicles with solid-state batteries that charge faster and last longer, an executive said on Thursday at an investment summit in India. Solid-state batteries promise to dramatically improve the driving range of electric vehicles (EVs), a key element of a strategic pivot Toyota unveiled in June to make up ground lost to Tesla and Chinese rivals, such as BYD, in the EV race. Last year, Toyota and oil refiner Idemitsu Kosan said they would tie up to develop and mass produce all-solid-state batteries, which they aim to commercialize in 2027 and 2028, followed by full-scale mass production. "We will be rolling out our electric vehicles with solid state batteries in a couple of years from now," said Vikram Gulati, the India head of Toyota Kirloskar Motor. It "will be a vehicle which will be charging in 10 minutes, giving a range of 1,200 kms (750 miles) and life expectancy will be very good". Gulati was speaking at the Vibrant Gujarat Global Summit where one focus of the Indian government is attracting more investments to scale up EV manufacturing capacity in the world's third largest auto market. At the start of the summit on Wednesday, Japan's Suzuki Motor said its Indian subsidiary and Toyota partner Maruti Suzuki would export the group's first battery EV to Japan and Europe — marking the first time for Maruti to export to its parent company's home country. Electric models made up around 2% of India's car sales last year, but the government is targeting 30% by 2030 and India's road transport minister said at the summit he sees annual EV sales in India reaching 10 million vehicles by 2030. On Toyota's plans for solid-state batteries in India, Gulati said the carmaker had various sustainable technology options that would differ based on the country, market and customer preferences. "Right now, for India, flex fuel and ethanol can be a no-brainer right away," he added India's trade department has backed lowering taxes on hybrid vehicles to help the transition to cleaner energy sources, following demands by Japanese carmakers, Reuters has reported. Gulati said the Indian government should consider a carbon-based tax structure for cars, which would make it technologically agnostic and more equitable.  Green Lexus Suzuki Toyota Electric

The next steps automakers could take after sales drop again in April

DETROIT (Reuters) - Major automakers on Tuesday posted declines in U.S. new vehicle sales for April in a sign the long boom cycle that lifted the American auto industry to record sales last year is losing steam, sending carmaker stocks down. The drop in sales versus April 2016 came on the heels of a disappointing March, which automakers had shrugged off as just a bad month. But two straight weak months has heightened Wall Street worries the cyclical industry is on a downward swing after a nearly uninterrupted boom since the Great Recession's end in 2010. Auto sales were a drag on U.S. first-quarter gross domestic product, with the economy growing at an annual rate of just 0.7 percent according to an advance estimate published by the Commerce Department last Friday. Excluding the auto sector the GDP growth rate would have been 1.2 percent. Industry consultant Autodata put the industry's seasonally adjusted annualized rate of sales at 16.88 million units for April, below the average of 17.2 million units predicted by analysts polled by Reuters. General Motors Co shares fell 2.9 percent while Ford Motor Co slid 4.3 percent and Fiat Chrysler Automobiles NV's U.S.-traded shares tumbled 4.2 percent. The U.S. auto industry faces multiple challenges. Sales are slipping and vehicle inventory levels have risen even as carmakers have hiked discounts to lure customers. A flood of used vehicles from the boom cycle are increasingly competing with new cars. The question for automakers: How much and for how long to curtail production this summer, which will result in worker layoffs? To bring down stocks of unsold vehicles, the Detroit automakers need to cut production, and offer more discounts without creating "an incentives war," said Mark Wakefield, head of the North American automotive practice for AlixPartners in Southfield, Michigan. "We see multiple weeks (of production) being taken out on the car side," he said, "and some softness on the truck side." Rival automakers will be watching each other to see if one is cutting prices to gain market share from another, he said, instead of just clearing inventory. INVESTORS DIGEST BAD NEWS Just last week GM reported a record first-quarter profit, but that had almost zero impact on the automaker's stock. The iconic carmaker, whose own interest was once conflated with that of America's, has slipped behind luxury carmaker Tesla Inc in terms of valuation.

Lexus LC convertible could appear in 18 months, LC F to follow

Auto Express reports that Lexus has a approved a convertible version of the LC, and is close to green-lighting a high-performance LC F trim. The Detroit Bureau reported that the same two models were in development one year ago, citing Lexus sources at the Detroit Auto Show who told the outlet "a number of additional variants" would follow the coupe's launch. The timeline's been stretched a bit between then and now; instead of getting the convertible this year, Auto Express says the "done deal" droptop should arrive in 18 months to two years. It's harder to read what we might get in an LC F. Gossip is that the naturally aspirated, 467-horsepower, 5.0-liter V8 wouldn't be the right motor for a hot LC. That V8 serves in lower-tier F models. so word is that Lexus engineers are considering a 4.0-liter, twin-turbo V8 with around 600 hp. Lexus chose the BMW 650i, Mercedes-Benz S-class coupe, and Jaguar F-Type as competitors to the LC, all of which have convertibles and high-performance trims. Among the specially-tuned challengers, the Jaguar F-Type R comes in with the lowest power figure at 550 hp. Both models would return Lexus to a small, exclusive end of the market where it hasn't held a membership since 2010. Rejoining that soiree — a party hosted by the Germans, because these matters always come back to the Germans — is another huge, and costly, step toward shedding Lexus' somnolent image. Akio Toyoda said the goal for his luxury arm was "that the words 'Lexus' and 'boring' never appear in the same sentence again." A three-model lineup would give the LC a genuine chance to contribute to that aim. Related Video: Featured Gallery 2018 Lexus LC 500 First Drive View 44 Photos News Source: Auto Express Rumormill Lexus Convertible Coupe Luxury Performance lexus lc 500