Toyota was one of the first automakers to jump into the race for EV dominance.
And they have been a leader in the effort to promote EVs.
That’s why Joe Biden turned red with rage after Toyota’s Chairman spilled the beans on the reality of Electric Vehicles.
The world’s auto manufacturers are slowing down their production of electric vehicles (EVs) in response to a marked decrease in American demand.
A huge “I told you so” moment
And this drop in production and demand is exactly what one industry CEO had predicted from the start.
While Toyota as a company has led the EV effort, its Chairman and one-time CEO has warned about EVs from the beginning.
According to the Wall Street Journal, Toyota Chairman and former CEO Akio Toyoda “may be enjoying an ‘I told you so’ moment.”
“People are finally seeing reality,” said Toyoda, who is also head of the Japan Automobile Manufacturers Association.
Toyoda was speaking with reporters recently at the Japan Mobility Show when he made his remarks about EVs.
“There are many ways to climb the mountain that is achieving carbon neutrality,” said Toyoda, who spent nearly 14 years at the helm of Toyota before stepping down from the role earlier this year.
While Toyoda has been a strong proponent of continued investment and R&D into hybrid and other vehicles, he has never bought into the false dichotomy of EVs versus traditional gas-powered internal combustion engine vehicles.
“I have continued to say what I see as reality,” Toyoda told the reporters at the Japan Mobility Show.
Going full EV isn’t the future
Last year, Toyoda announced a $70 billion, 9-year investment into electric-powered autos, but also stated only half of that would go to fully electric vehicles.
“Toyoda, who described Toyota as a large department store, said the company’s goal ‘remains the same, pleasing the widest possible range of customers with the widest possible range of powertrains,’” CNBC reported at the time. “Those powertrains will include hybrids and plug-in hybrids like the Prius, hydrogen fuel cell vehicles like the Mirai and 15 all-electric battery models by 2025.”
“Toyoda reiterated that he does not believe all-electric vehicles will be adopted as quickly as policy regulators and competitors think, due to a variety of reasons,” the outlet continued. “He cited lack of infrastructure, pricing and how customers’ choices vary region to region as examples of possible roadblocks.”
And the Wall Street Journal noted that Toyoda’s thinking seems like wisdom in retrospect, given the current slumping EV market.
Poor performance, the increasingly high costs of production, repair, and battery replacement, and fire dangers are only part of the problem for the EV industry.
There is also a growing concern about the lack of resources needed in EV and battery manufacturing.
And a continued issue with the limited charging infrastructure.
It turns out consumer interest in EVs just isn’t what big government regulators and climate change hoaxsters hoped it would be.
24/7 Politics will keep you up-to-date on any developments to this ongoing story.