> Capacity/density improvements are slower, but already many EVs have nearly the same range as a lot of ICE car equivalents. Correct. But what they don't have

> Capacity/density improvements are slower, but already many EVs have nearly the same range as a lot of ICE car equivalents. Correct. But what they don't have is competitive re-fueling time. You end up with full-range refractory periods for EVs around an order of magnitude larger than ICEs or hybrids. That represents a time and logistical overhead cost that ICE/hybrid drivers don't have to pay. > Toyota has been caught off-guard big time by how fast the EV market has moved, and now they're left holding a very wet, cold blanket that is hybrid technology. Toyota is two decades past the point where they were able to make full EVs[0] and had over a decade on which they were able to investigate and refine them. As tempting as this is to turn this into narrative of the bold visionaries who knew to look to an EV future vs entrenched special interests who only have their tepid hybrids to hold onto, the facts tell a different story in terms of fundamental capability. If Toyota is making a bet on hybrids, they have a reason that goes beyond their limits as a company. [0] https://en.wikipedia.org/wiki/Toyota_RAV4_EV https://en.wikipedia.org/wiki/Toyota_RAV4_EV