- Toyota Chairman Akio Toyoda said electric vehicles will reach a maximum market share of 30% globally.
A sluggish approach towards electric vehicles is a big reason why Toyota’s current Chairman Akio Toyoda had to bow out from his role as the automobile giant’s CEO. However, despite being replaced by a new leader, he still believes that a full transition towards electric vehicles is not the answer. Automotive News has reported that Toyoda has again reiterated its stance on electric vehicles by saying that it will be a mix of different types of powertrain technologies.
Toyoda has reportedly said that battery-propelled full electric vehicles will reach a maximum market share of 30 per cent globally, while the rest of the 70 per cent will be divided among hybrids, hydrogen fuel cell cars and traditional internal combustion engine-powered petrol and diesel cars.
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Toyoda reportedly stated that with a billion people in the world living without electricity, limiting their choices and ability to travel by making expensive pure electric cars isn’t the answer. He went on to say that the decision on vehicle types should be driven by customers rather than regulatory or political considerations. “Engines will surely remain,” Toyoda reportedly stated.
Toyota remained conservative towards EVs
At a time when the world of automobiles has been thriving towards zero-emission pure electric vehicles, Toyota’s approach to EVs has been notably conservative compared to the majority of its peers in the industry. Instead of focusing on pure electric vehicles, Toyota has been keen on hybrid technology. The Japanese automobile giant believes that hybrid technology has more mettle to set the tone for a matured transition to battery-powered mobility.
Akio Toyoda has said time and again that a one-size-fits-all approach may not be suitable for all markets and consumer preferences. About a year ago, Toyoda, then Toyota’s CEO, said that going green also involves converting the existing internal combustion engine-powered cars into electric or hydrogen vehicles.
First Published Date: 25 Jan 2024, 09:35 AM IST
