Toyota Chairman Akio Toyoda recently shared his perspective on the future of the global new-car market, emphasising that electric vehicles (EVs) are likely to constitute only 30 per cent of sales. Toyoda predicted that the remaining 70 per cent will be divided among hybrid-electric vehicles, hydrogen fuel-cell vehicles, and hydrogen-burning internal-combustion engine cars.
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Toyoda argued that achieving carbon neutrality is intertwined with each country’s energy landscape, and he highlighted the challenges of providing transportation for people worldwide living in areas without electricity. The Toyota chairman stressed the importance of offering a variety of options within Toyota’s lineup to cater to diverse energy needs and accessibility challenges.
Toyoda says that sales of hybrids, fuel cell vehicles and hydrogen internal combustion cars will remain greater than EVs.
While acknowledging the advancements in battery-electric vehicles (BEVs), Toyoda emphasised the importance of providing choices to consumers. Toyota has faced criticism for not fully embracing the shift to electric vehicles, opting to continue the development of hybrid and hydrogen technologies alongside BEVs.
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Toyoda’s vision contrasts with the industry trend, where many automakers are focusing on an exclusive transition to electric propulsion. He believes that customer choices, rather than regulatory or political influences, should guide the future of the automotive industry.
Toyota has been working on hydrogen internal combustion engines for a few years now.
The chairman’s conservative stance aligns with Toyota’s strategy, emphasising the pragmatic consideration of global energy infrastructure, customer preferences, and the longevity of existing vehicle fleets. Toyota remains committed to offering a diverse range of mobility solutions, challenging the prevailing narrative of a rapid and exclusive shift to electric vehicles.
Toyoda’s predictions did not provide clarity on the timeline or specific market regions but underscored Toyota’s belief in the coexistence of various technologies to address the multifaceted challenges of global mobility.
While Toyota’s approach to electric vehicles has been considered conservative compared to some competitors, the company continues to prioritise a balanced and measured transition, emphasising customer autonomy in shaping the future of mobility.
