Akio Toyoda says Toyota’s plan of action is a more realistic global approach given current supply chain and infrastructure conditions.
Toyota has been criticized for its EV strategy for falling short of the money and efforts being put forth by competitors. It only has one pure EV on the market,of about 150 miles is slow to charge. The focus has been on hybrids and plug-in hybrids. In this transitionary time, the global automaker sees itself as the metaphorical department store of powertrains with the goods to cater to a diverse consumer base around the world, Toyoda, told a small group of reporters.
By contrast, Ford is spending $50 billion through 2026 to be able to produce 2 million EVs annually, and General Motors wants to stop making vehicles with internal combustion engines by 2035, which aligns with the California and New York combustion sales bans. However, Toyoda says Toyota is a more global company that must factor in the parts of the world that lack infrastructure for charging—in some cases they lack electricity altogether—and he also believes consumer tastes are varied.
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