Toyota’s Investment in WeaveGrid Signals Broadened Commitment to Battery and Plug-in Hybrid Electric Vehicle Customer Experience

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PLANO, Texas (Dec. 19, 2024) – Toyota Motor North America (TMNA) today shared further details regarding its commitment to develop a seamless home charging experience as the company prepares to ramp up for its next-generation electrified vehicles. With investment from Toyota’s growth fund Woven Capital, TMNA is collaborating with WeaveGrid to ensure that as more Toyota battery electric vehicles (BEV) and plug-in hybrid vehicles (PHEV) are introduced, these vehicles will be able to smoothly integrate with the electric grid, helping facilitate an efficient, equitable and resilient energy transition.

“Toyota is committed to making investments in technologies and solutions to provide greater insights for our customers and electric utility partners into how vehicles will interface with their homes and the electric grid,” said Christopher Yang, group vice president, Toyota EV Charging Solutions. “With more Toyota BEV and PHEV customers than ever before, we are looking to ensure that they will be met with a high-quality experience that enriches their ownership journey.”

Toyota’s investment strategy focuses on developing and providing cutting-edge solutions that can maximize the benefits of load flexibility with electric vehicles on the grid, while at the same time exploring potential financial advantages for customers.

By 2030, the National Renewable Energy Laboratory (NREL) estimates that there could be more than 10 times the number of BEV and PHEV vehicles on the road in the U.S., contributing to a dramatic increase in electricity consumption.

Anticipating the rapid expansion that will be needed to meet demand from EVs and other new loads, Toyota is collaborating with WeaveGrid and its partner utilities to launch programs and support a grid that is resilient and more affordable so that customers can charge their vehicles reliably and at a potentially reduced cost. The collaboration is also examining how vehicle batteries can serve dual purposes for vehicle propulsion and home energy needs in ways that benefit drivers of BEVs, PHEVs and the grid.

WeaveGrid takes a systems-oriented approach under the philosophy that the energy and transportation sectors will need to be further integrated and transformed to help utilities absorb the coming wave of vehicle electrification from automakers like Toyota.

“As Toyota aims to expand the number of BEV and PHEV vehicles we offer, our goal remains to ensure the ownership experience is as seamless and customer-friendly as it has been with the vehicles we’ve built our reputation on in the U.S. over the last 67 years,” Yang said. “Investing in our infrastructure with WeaveGrid has the potential to provide customers and power utilities with mutual benefits that align with our mission to contribute to the goal of a carbon-neutral society.”