Toyota (NYSE:TM) unveiled its new home battery storage system which will go on sale in Japan in August. The system can store energy from solar panels and act as a backup power source during power outages.
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Although we don’t expect the product to move the needle for the company’s revenue in the near term, it does indicate that Toyota is getting more serious about battery development, which is key to its transition to electric vehicles.
|S&P 500 Return||-1%||-14%||84%|
|Trefis Multi-Strategy Portfolio||1%||-18%||224%|
 Month-to-date and year-to-date as of 6/6/2022
 Cumulative total returns since the end of 2016