Toyota CEO Speaks Out Against Exclusively EV Future

The leader of the biggest automaker in the world said this week that the majority of those who work in the sector share his skepticism regarding efforts to switch to only producing electric cars. During a visit to Thailand, Akio Toyoda, the head of Toyota Motor, commented to reporters. He said most of those working in the auto industry, according to Toyoda, are largely silent.

That silent majority is debating whether having EVs as the only option is acceptable. However, they believe it to be the norm, so they cannot speak up. “We shouldn’t restrict ourselves to just one choice,” he continued, “because the correct answer is still not clear.”

Toyota CEO Akio Toyoda: ‘Silent Majority’ Of Automakers Not Fully Sold On Electric Vehicles | The Daily Wire

The remarks come at a time when manufacturers still have trouble obtaining the raw materials necessary to build new cars, particularly electric vehicles, due to supply chain problems brought on by the coronavirus pandemic.

While some of Toyota’s competitors have fully embraced electric vehicles, setting future dates at which their businesses would only produce electric vehicles, Toyota has diversified its future product offerings and is concentrated on producing conventional gas cars, hybrids, and hydrogen-powered vehicles.

The company does not think there is as much demand for electric vehicles as people think, according to Jack Hollis, Executive Vice President of Sales at Toyota Motor North America, who made this statement earlier this year. “The market is not, in my opinion, prepared. The infrastructure isn’t, in my opinion,” he said.

Hollis said even if you were prepared to buy one and had the money to do so, the cost is still too high. It took 25 years for the hybrid to reach less than 10% of the market. (EVs) are not being demanded at that level by consumers. The U.S. economy is expected to continue to deteriorate, which, along with falling gas prices, rising interest rates, and high inflation rates, may make it more difficult for the market for electric vehicles to grow.

Elon Musk, the CEO of Tesla, has additionally cautioned that society would be irreparably damaged if it attempted to stop using fossil fuels and that the transition from oil and gas is not as simple as people believe.

We actually require more oil and gas right now, not less, according to Musk. He believes that we must use oil and gas in the near future to prevent the collapse of civilization. The switch to sustainable energy and an economy is one of the biggest challenges the world has ever faced.

It will take several decades to finish that, according to Musk.