{"id":78007,"date":"2023-06-14T01:00:49","date_gmt":"2023-06-14T01:00:49","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/06\/14\/toyota-releases-new-technology-roadmap-in-efforts-to-catch-up-with-automotive-manufacturing-industry\/"},"modified":"2023-06-14T01:00:49","modified_gmt":"2023-06-14T01:00:49","slug":"toyota-releases-new-technology-roadmap-in-efforts-to-catch-up-with-automotive-manufacturing-industry","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/06\/14\/toyota-releases-new-technology-roadmap-in-efforts-to-catch-up-with-automotive-manufacturing-industry\/","title":{"rendered":"Toyota releases new technology roadmap in efforts to catch up with automotive manufacturing industry"},"content":{"rendered":"

Toyota reveals plans for its contribution to the EV market:<\/strong> Japan\u2019s car manufacturing giant Toyota Motor has unveiled plans to introduce new technologies to improve the range, performance, and cost of EVs it plans to launch in the second half of the decade, Reuters<\/a> reports. The company\u2019s technology roadmap \u2014 which includes plans for battery development, factory redesigns, the streamlining of aerodynamics, and part replacements \u2014 is the automaker's \u201cfullest disclosure\u201d of its plan to compete in the EV market, where it has lagged behind competitors, according to the newswire<\/a>. The roadmap was released a day before an annual shareholders meeting where governance and strategy \u2014 including the slow transition to battery EVs under former CEO Akio Toyoda \u2014 is expected to be evaluated.<\/p>\n

Anything to land EV metals: <\/strong>Russia\u2019s leading metal industry Artem Volynets\u2019 blank check firm has agreed to acquire two Brazilian mines for USD 1 bn to secure precious metals for EV manufacturing, Bloomberg<\/a> reported this week. London-listed ACG Acquisition is set to acquire the assets from private Appian Capital Advisory, with Volkswagen\u2019s battery arm to back the acquisition with a USD 100 mn prepayment in return for future nickel deliveries. Other investors include Chrysler owner Stellantis, La Mancha Resource Capital and commodities trader Glencore which have all agreed to buy USD 100 mn of ACG stock. The transaction by ACG includes a nickel sulfide mine in Brazil\u2019s Santa Rita and the Minera\u00e7ao Vale Verde copper mine in Serrote.<\/p>\n

REMEMBER-<\/strong> Copper, cobalt, nickel, and lithium \u2014 critical minerals<\/a> for EV and battery storage production \u2014 are expected to see a massive jump in demand in the coming years as countries roll out their plans for energy transition.<\/p>\n

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Anchor funding for Africa\u2019s climate adaptation:<\/strong> African Finance Corporation (AFC) Capital Partners \u2014 the AFC asset management subsidiary \u2014 has secured USD 300 mn in anchor funding led by the UN-backed Green Climate Fund, AFC Capital\u2019s CEO Ayaan Zeinab Adam told Bloomberg<\/a> in an interview this week. The outfit is currently in talks with other investors with fundraising expected later to scale up to between USD 450 mn and USD 500 mn, Adam said. The South Korea-based Green Climate Fund is committing USD 240 mn in funds while AFC will pour in USD 60 mn, she revealed. When the initial target is met, fundraising would continue to reach a target between USD 750 mn and USD 1 bn.<\/p>\n

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n