Toyota Executive Warns Against Complete Shift to Electric Vehicles

EVs predicted to have max 30% market share, says Akio Toyoda.

According to Toyota Chairman Akio Toyoda, electric cars powered by batteries will eventually capture up to 30 percent of the market, leaving hybrids, hydrogen fuel cell vehicles, and conventional gas-guzzling cars to make up the remaining share. As the grandson of the automaker’s founder, Toyoda stressed the significance of providing customers with a variety of options and allowing them to play a key role in shaping the direction of the automotive sector.Grammar check: – Change “captured” to “reach”- Remove the comma after “cars”- Change “fuel-burning” to “gas-guzzling”

During the occasion, statements released on Toyota’s official media platform cited Toyoda as stating, “The answer is not to restrict people’s choices and ability to travel by producing expensive cars when there are still a billion people in the world without electricity.” He further emphasized that the determination of vehicle types should be based on the preferences of customers rather than regulatory or political factors.

“Engines will surely remain,” stated Toyoda in the company publication, emphasizing the importance of traditional engines in the automotive industry. However, it is uncertain whether he was specifically addressing new car sales or the existing vehicles on the road. The chairman’s comments also lacked clarity on his projections for the US market, which has seen a slower growth in electric vehicle market share than initially expected.

Toyota has taken a cautious approach towards electric vehicles (EVs) when compared to other companies in the same industry. The brand’s unswerving dedication to its innovative hybrid technology has influenced its deliberate move towards using battery-powered mobility. Toyota believes that a single strategy may not be appropriate for all regions and consumer demands. This conservative attitude demonstrates the company’s rational assessment of the worldwide energy infrastructure, customer requirements, and the lifespan of current vehicle fleets, which counters the prevalent trend of a hasty and complete transition to electric propulsio

Approximately one year ago, Toyoda, who was then the CEO of Toyota, made a statement stating that promoting environmental sustainability means not only creating new electric vehicles or hydrogen-fueled machines, but also converting traditional gasoline-powered cars into eco-friendly options. Just a few weeks before this interview took place, the Japanese company introduced two AE86 Concepts at the Tokyo Auto Salon, providing a glimpse into more environmentally conscious versions of older models. One of the concepts utilized a powertrain from the Mirai hydrogen car, while the other featured an electric motor borrowed from a Tundra hybrid and a battery pack taken from a Prius plug-in hybrid.

Source: Automotive News