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- Chairman Akio Toyoda doubts EVs will ever reach 30% of global market share, citing electricity access issues in parts of the world.
- Toyota has been hesitant to fully adopt EV technology, focusing instead on hybrids and exploring hydrogen fuel cell vehicles.
- Recent market trends show a slump in EV demand, with used Tesla prices falling and companies like Ford adjusting their EV production strategies.
Toyota’s chairman and former CEO, Akio Toyoda, is at it again: providing the public with a dose of reality that electric vehicles will never dominate the global car market.
Toyoda, grandson of the founder of the world’s largest car manufacturer, expressed at a business event this month, as reported by The Telegraph, that EVs will never capture 30% of global market share.
He explained that petrol-burning vehicles and hybrids, along with hydrogen fuel cell vehicles, will dominate.
Toyoda made the point: How can EVs be the future when a billion people on Earth have no electricity…
