As chairman of Toyota Motor Corporation, Akio Toyoda dashes the aspirations of progressive green energy advocates regarding the ultimate viability of electric vehicles, stating that they will never predominate on the road.
Toyoda, the current chairman and former CEO of Toyota and the grandson of the company’s founder, stated at a business event in Japan that electric vehicles fueled solely by batteries are not practical for the majority of people and will not replace gas-powered vehicles.
During his remarks, Toyoda said that “no matter how much progress [battery electric vehicles] make,” hybrids, gas-powered, and fuel cell vehicles will remain more popular and will constitute about 70 percent of the market, according to CarScoops, a website that focuses on the automotive industry.
Carscoops referenced a Google translation of an article that was initially published on Tuesday by the organization’s website, the Toyota Times.
As per CarScoops, Toyoda further explained that this is the reason Toyota Motors has not fully invested in electric vehicles.
Furthermore, the automaker’s CEO stated, in what could be interpreted as a direct slap at governments, including the Biden administration, that the viability of electric vehicles (EVs) will be determined by the markets and not by legislators attempting to pressure car purchasers to purchase EVs with enormous subsidies backed by taxpayers.
Toyoda stated, “That’s why Toyota Motor Corporation, which is competing all over the world, has a full lineup of multi-pathway products,” as reported by CarScoops.
He told his audience, “Customers — not regulations or politics — should make that decision,” as reported by Bloomberg.
Toyoda further stated that due to the presence of inadequate or nonexistent electric power infrastructure in numerous regions worldwide, an EV is not a viable universal option.
However, that does not imply Toyota Motors is declining to produce electric vehicles.
The company expects to sell 1.5 million EVs annually by 2026, and perhaps as many as 3.5 million by 2030, according to Inside EVs, a website that describes itself as geared toward “fans of electric cars, plug-in hybrids and alternative-energy vehicles of all shapes and sizes.”
“Last year, EVs accounted for around 18% of all new vehicle sales globally,” Inside EVs added.
More on this story via The Western Journal:
Toyoda, though, did issue an ominous warning.
He said that banks may stop loaning to companies that don’t go all-in on the green agenda, according to Yahoo Finance. CONTINUE READING…