Toyota’s newest breakthrough could be the ‘kiss of death’ for gas-powered cars — and could hit the market as early as 2027
The breakthrough occurred on two fronts.
Toyota Announcement (2 Viewers)
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Mike Shull
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Maybe that 500 range EV conversion for the 40 is closer than I thought
Not so quick...
Toyota's Chairman Akio Toyoda believes electric vehicles will reach at most 30% market share, with the rest taken up by hybrids, hydrogen fuel cell and fuel-burning cars.
"No matter how much progress BEVs make, I think they will still only have a 30 % market share," said Toyoda. "Then, the remaining 70% will be HEVs, FCEVs, and hydrogen engines. And I think engine cars will definitely remain."
"I think this is something that customers and the market will decide, not regulatory values or political power.”
Toyoda's comments follow similar statements he made at the Japan Mobility Show in October 2023, where slowing sales of EVs led him to say that "people are finally seeing reality.”
Toyota’s N American CEO Ted Ogawa reinforced Toyoda’s remarks saying that Toyota would rather pay pollution credits than “waste” money on EV investments. He also indicated that Toyota’s emphasis will be on the voice of the customer and not regulatory or political decree. Makes perfect sense because the regulations and politics can radically change with one election, but what customers want endures.
https://www.bloomberg.com/news/arti...ll-only-reach-30-share?embedded-checkout=true
Toyota’s Hybrid-First Strategy Is Delivering Big Profits - https://www.nytimes.com/2024/03/09/business/toyotas-hybrid-electric-vehicles.html
thedriven.io
Toyota's Chairman Akio Toyoda believes electric vehicles will reach at most 30% market share, with the rest taken up by hybrids, hydrogen fuel cell and fuel-burning cars.
"No matter how much progress BEVs make, I think they will still only have a 30 % market share," said Toyoda. "Then, the remaining 70% will be HEVs, FCEVs, and hydrogen engines. And I think engine cars will definitely remain."
"I think this is something that customers and the market will decide, not regulatory values or political power.”
Toyoda's comments follow similar statements he made at the Japan Mobility Show in October 2023, where slowing sales of EVs led him to say that "people are finally seeing reality.”
Toyota’s N American CEO Ted Ogawa reinforced Toyoda’s remarks saying that Toyota would rather pay pollution credits than “waste” money on EV investments. He also indicated that Toyota’s emphasis will be on the voice of the customer and not regulatory or political decree. Makes perfect sense because the regulations and politics can radically change with one election, but what customers want endures.
https://www.bloomberg.com/news/arti...ll-only-reach-30-share?embedded-checkout=true
Toyota’s Hybrid-First Strategy Is Delivering Big Profits - https://www.nytimes.com/2024/03/09/business/toyotas-hybrid-electric-vehicles.html
Better to buy pollution credits than "waste" money on EVs, says Toyota CEO
North America CEO says Toyota would rather buy pollution credits than invest in electric vehicles, while Australian head of sales says they'd rather pay the fines than buy credits.
thedriven.io
The strategic focus of Toyota on hybrids appears to be a clever step, demonstrating the company's skill to adjust and succeed in an automotive market that is swiftly changing. Hybrid technology acts as a link between traditional and completely electric vehicles, giving customers a dependable and kinder-to-environment choice, while the setup for EVs keeps growing.
