Akio Toyoda, Toyota Motor’s chairman, has never been a huge fan of battery electric vehicles. Last October, as global sales of EVs started to slow down amid macroeconomic uncertainty, Toyoda crowed that people are “finally seeing reality” on EVs. Now, the auto executive is doubling down on his bearish forecast, boldly predicting that just three in 10 cars on the road will be powered by a battery.
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“The enemy is CO2,” Toyoda said, proposing a “multi-pathway approach” that doesn’t rely on any one type of vehicle. “Customers, not regulations or politics” should make the decision on what path to rely on, he said.
The auto executive estimated that around a billion people still live in areas without electricity, which limits the appeal of a battery electric vehicle. Toyoda estimated that fully electric cars will only capture 30% of the market, with the remainder taken up by hybrids or vehicles that use hydrogen technology.
At this point the dude is just grasping for anything that will to justify the stupid business decisions that he’s made. 30% is a shit load, and something a sane business person would be excited about trying to capture.
Before nepotism appointed him to CEO, the company launched the Prius. That thing was exciting and innovative when it came out.
Under his leadership the Prius brand became a synonym for boredom, he relinquished Toyota’s electric powertrain lead to other manufacturers, and the brand produced a lot of uninspired vehicles in general.
This guy was at the helm during the years of Toyota’s decline. Forgive me if I don’t pay any attention to him.
It’s his hand to play. If he’s wrong, he’s wrong and will find out.