3 ms·

Toyota's chairman doubles down on EV skepticism, adoption will peak at just 30%

6 points by hhs 3y ago

barbazoo 3y ago
I would probably say the same if I had bet on the wrong horse > Toyota has generally lagged its competitors in aggressively pushing electric vehicles. The Japanese company has previously pledged to offer a line-up of 30 battery-powered EVs by 2030; by comparison, Volkswagen plans to offer 70 all-electric models by 2030, and BMW wants to increase its delivery share of all-electric vehicles to 50% over the same period. Bloomberg estimates that 44% of passenger cars on the road will be EVs by 2040.
- morkalork 3y ago
  I can't believe how badly they blew their lead when they had Prius.
jqpabc123 3y ago
Of course, Akio has a vested interest in maintaining the internal combustion engine. EVs have about half as many components as an ICE vehicle. They are cheaper/easier to build and maintain. This will allow many new competitors (such as China) to enter the EV market and drive prices down. One breakthrough in battery technology could sink Akio's vision. And scientists around the world are working feverishly to do just that. https://www.newscientist.com/article/2411374-ai-comes-up-with-battery-design-that-uses-70-per-cent-less-lithium/ https://www.newscientist.com/article/2411374-ai-comes-up-wit...
legitster 3y ago
You can actually read the translated version of the source post https://toyotatimes.jp/toyota_news/1055_1.html https://toyotatimes.jp/toyota_news/1055_1.html "However, one billion people around the world live in areas without electricity. In the case of Toyota, we also supply vehicles to these regions, so a single BEV option cannot provide transportation for everyone." "Toyota believes that freedom of movement should never be taken away from people in any region, country, or income group." "No matter how much progress BEVs make, I think they will still only have a 30 % market share. Then, the remaining 70 % will be HEVs , FCEVs , and hydrogen engines. And I think engine cars will definitely remain." The whole point is that Toyota wants to maintain a diverse offering. And I personally don't understand the flack they get for a lack of EVs when their hybrids are selling like gangbusters. They don't even have the battery production capacity to keep up with demand for their Rav4 Prime or Sienna. Cutting into those product lines to produce a Tesla competitor would probably net more carbon.
- infotainment 3y ago
  > And I personally don't understand the flack they get for a lack of EVs when their hybrids are selling like gangbusters Probably because people want a good Toyota EV. Right now, if you don’t want an SUV, there’s basically like one or two viable EV options in America. All I want is for Toyota to just build a pure BEV Prius.
  - legitster 3y ago
    > Probably because people want a good Toyota EV. This logic makes no sense to me. Toyotas are beloved because they choose boring and reliable technology and refine it over time. They don't have the technology or manufacturing on hand for EVs - all they would be would another manufacturer throwing their name on another rebadged Chinese drivetrain. I understand that from a consumer perspective, we really only care about the logo on the product and don't stop to think that a Carhart branded laptop might not actually be built to the standards of the Carhart brand. But it's pretty rare to have a CEO in 2024 actually come out and say "we're not going to cheapen our brand by making products we would be bad at" and I don't think we appreciate that enough.
    - jqpabc123 3y ago
      It's pretty rare to have a CEO in 2024 actually come out and say "go buy someone else's product because we don't want to do it". If Toyota can't/won't, lots of others will --- like BYD which just overtook Tesla and is backed by Warren Buffet. https://www.motortrend.com/reviews/2023-byd-dolphin-first-drive-review/ https://www.motortrend.com/reviews/2023-byd-dolphin-first-dr...

6 points by hhs 3y ago

I would probably say the same if I had bet on the wrong horse > Toyota has generally lagged its competitors in aggressively pushing electric vehicles. The Japanese company has previously pledged to offer a line-up of 30 battery-powered EVs by 2030; by comparison, Volkswagen plans to offer 70 all-electric models by 2030, and BMW wants to increase its delivery share of all-electric vehicles to 50% over the same period. Bloomberg estimates that 44% of passenger cars on the road will be EVs by 2040.

morkalork 3y ago
I can't believe how badly they blew their lead when they had Prius.

jqpabc123 3y ago

Of course, Akio has a vested interest in maintaining the internal combustion engine. EVs have about half as many components as an ICE vehicle. They are cheaper/easier to build and maintain. This will allow many new competitors (such as China) to enter the EV market and drive prices down. One breakthrough in battery technology could sink Akio's vision. And scientists around the world are working feverishly to do just that. https://www.newscientist.com/article/2411374-ai-comes-up-with-battery-design-that-uses-70-per-cent-less-lithium/ https://www.newscientist.com/article/2411374-ai-comes-up-wit...

legitster 3y ago

You can actually read the translated version of the source post https://toyotatimes.jp/toyota_news/1055_1.html https://toyotatimes.jp/toyota_news/1055_1.html "However, one billion people around the world live in areas without electricity. In the case of Toyota, we also supply vehicles to these regions, so a single BEV option cannot provide transportation for everyone." "Toyota believes that freedom of movement should never be taken away from people in any region, country, or income group." "No matter how much progress BEVs make, I think they will still only have a 30 % market share. Then, the remaining 70 % will be HEVs , FCEVs , and hydrogen engines. And I think engine cars will definitely remain." The whole point is that Toyota wants to maintain a diverse offering. And I personally don't understand the flack they get for a lack of EVs when their hybrids are selling like gangbusters. They don't even have the battery production capacity to keep up with demand for their Rav4 Prime or Sienna. Cutting into those product lines to produce a Tesla competitor would probably net more carbon.

infotainment 3y ago
> And I personally don't understand the flack they get for a lack of EVs when their hybrids are selling like gangbusters Probably because people want a good Toyota EV. Right now, if you don’t want an SUV, there’s basically like one or two viable EV options in America. All I want is for Toyota to just build a pure BEV Prius.
- legitster 3y ago
  > Probably because people want a good Toyota EV. This logic makes no sense to me. Toyotas are beloved because they choose boring and reliable technology and refine it over time. They don't have the technology or manufacturing on hand for EVs - all they would be would another manufacturer throwing their name on another rebadged Chinese drivetrain. I understand that from a consumer perspective, we really only care about the logo on the product and don't stop to think that a Carhart branded laptop might not actually be built to the standards of the Carhart brand. But it's pretty rare to have a CEO in 2024 actually come out and say "we're not going to cheapen our brand by making products we would be bad at" and I don't think we appreciate that enough.
  - jqpabc123 3y ago
    It's pretty rare to have a CEO in 2024 actually come out and say "go buy someone else's product because we don't want to do it". If Toyota can't/won't, lots of others will --- like BYD which just overtook Tesla and is backed by Warren Buffet. https://www.motortrend.com/reviews/2023-byd-dolphin-first-drive-review/ https://www.motortrend.com/reviews/2023-byd-dolphin-first-dr...