REPORT: Toyota set to sell long-range, fast-charging electric cars in 2022.

Toyota’s new electric car, to be built on an all-new platform, will use all-solid-state batteries, allowing it to be recharged in just a few minutes, the newspaper said, without citing sources.

By contrast, current electric vehicles (EVs), which use lithium-ion batteries, need 20-30 minutes to recharge even with fast chargers and typically have a range of just 300-400 kilometers (185-250 miles).

Toyota has decided to sell the new model in Japan as early as 2022, the paper said.

Toyota spokeswoman Kayo Doi said the company would not comment on specific product plans but added that it aimed to commercialize all-solid-state batteries by the early 2020s.

Toyota thinks they can beat the range and charging time problems in just five years, and if they can, then the price problem should solve itself quickly enough through economies of scale.

Master those three problems, and the age of the electric car will have arrived.