Toyota Motor Chairman Akio Toyoda is being proven right about EVs. He didn’t believe in jumping on the radical bandwagon of fully electric vehicles for all. The desire for EVs is dropping precipitously in America.
According to the Wall Street Journal, Toyoda said, “People are finally seeing reality.” Currently, he is also the head of the Japan Automobile Manufacturers Association. He spoke with reporters on Wednesday about the issue at the Japan Mobility SShow.
“There are ways to climb the mountain that is achieving carbon neutrality,” said Toyoda.
American car companies, such as Tesla and Ford, who make EVs, are slowing down production. EVs are more expensive than gasoline cars, they need to be recharged regularly, they pose challenges for some drivers, and the interest rates are very high right now. US auto companies have poured billions into the endeavor, and they’re worried.
General Motors and Honda Motor Company said on Wednesday that they are ditching a partnership of a year and a half ago to develop a line of lower-priced EVs.
GM also abandoned a target of building 400,000 EVS by mid-2024.
Japanese car companies, especially Toyota, were far more aware of the challenges that the future presents for an EV car. Right now, the Japanese are working on the development of parts and manufacturing methods. Optimized for EVS.
Toyota said that the market for hybrids is “smoking hot,” and they’re on top of that one. Toyota said, “I have continued to say what I see is reality,” and “if regulations are created based on ideals, it is regular users who are the ones who suffer.”
At this time, EVs are a gift to China, which has control over the materials needed to make the batteries.
Listen to a does of reality:
Subscribe to the Daily Newsletter
