"Relying on Chinese battery makers to fast forward its move to electric vehicles (EVs), Toyota is aiming for half its global sales to come from EVs by 2025, five years ahead of schedule. The move is an admission by Toyota that it will not be able to meet the demand for its global batteries requirement on its own. Toyota already makes its own batteries for hybrids and hybrid plug-ins. It will be partnering with China’s Contemporary Amperex Technology Co Ltd (CATL) and BYD Co Ltd. for EV battery sourcing. In other similarly prudent moves, Toyota is looking for alliances with competing automakers and technology enterprises, to reduce the capital outlay for developing new-vehicle technologies." – Vinay Piparsania