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Toyota Chairman Throws Cold Water on EV Agenda, Says Transition Won’t Match Projections

via Toyota Motor Corporation
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Toyota Motor Corp. Chairman Akio Toyoda expressed skepticism about electric vehicles (EVs), stating they won’t dominate the market and that hybrids, gas-powered, and fuel cell vehicles will remain more popular.

He emphasized that customer choice, not regulations or politics, should decide vehicle preferences.

While Toyota plans to sell millions of EVs, Toyoda warned that banks may stop lending to companies not embracing the green agenda.

“That’s why Toyota Motor Corporation, which is competing all over the world, has a full lineup of multi-pathway products,” Toyoda said.

“Customers — not regulations or politics — should make that decision,” he added.

“Last year, EVs accounted for around 18% of all new vehicle sales globally,” Inside EVs wrote.

He has consistently been critical of an all-EV future, citing concerns about feasibility and the industry’s “silent majority” questioning the sole reliance on EVs.

“People involved in the auto industry are largely a silent majority,” Toyoda said.

“That silent majority is wondering whether EVs are really OK to have as a single option. But they think it’s the trend so they can’t speak out loudly.”

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