The Japanese automaker Toyota has been exceptionally outspoken in its opposition to the rapid transition to electric vehicles. In line with the company’s stance, Toyota has been selling hybrid vehicles that reduce emissions by 30–40% at a moderate price premium across its portfolio, according to The Driven.
However, Toyota’s plan remains uncertain as they cannot really remain anti-EV considering the support of the Government worldwide on electrification. Therefore, it would be no surprise if this is just a strategy of Toyota to dominate the EV market in the future.
Notably, Toyota has been one of the impediments to promoting clean mobility since they are centered on outdated technologies. It is also interesting that Toyota’s customers may be fooled about Toyota’s intentions as the company rides the misinformed “hydrogen hype” to obtain recognition with its focus on hydrogen.
However, it must be noted that Toyota is a significant investor in the next generation of batteries, which are lighter, smaller, and have a longer range. In addition, Toyota is a significant player in the housing industry, where vehicle-to-home communication will become more crucial to supplying reliable electricity.
It is worth mentioning that due to the possibility of strong earthquakes in Japan that could destabilize electricity supplies, the citizens have shown support for this technology. Meanwhile, residents in other countries are experiencing significant disturbances in their electrical supply due to climate-related floods, cyclones, and bushfires.
That said, Toyota’s rivals would be outsmarted if it introduced a cutting-edge electric vehicle model in 2024. Furthermore, Toyota’s marketing budget could guarantee that customers value its product.
Toyota also has a substantial dealer network that must generate revenue, but it must be remembered that electric vehicles do not require consistent maintenance. Furthermore, the company has millions of hybrids that face the possibility of becoming tomorrow’s “gas guzzlers,” given the significant shift to electric vehicles worldwide.