Toyota Chairman and former CEO Akio Toyoda has raised concerns about the growing focus on electric cars in the automotive industry. He believes many people share his doubts but feel unable to voice them publicly.
"The silent majority wonders whether electric cars are really okay to have as the only option. But they think it's the trend, so they can't speak out," Toyoda said to the Wall Street Journal.
Different Views on the Future of Cars
As several carmakers, including Volvo Cars and Mercedes-Benz, commit to phasing out combustion engines and hybrids by 2030, Toyota is taking a more cautious approach.
While Toyota has invested heavily in electric vehicles (EVs), the company continues to explore other technologies like hydrogen-powered and hybrid cars.
Toyota has partnered with BMW to develop hydrogen technology, a field it has been investing in for years. The company’s focus on alternative powertrains dates back to the launch of the Prius in 1997, the first mass-produced hybrid car.
However, the latest Prius is no longer available in some markets, such as Sweden.
Investment and Setbacks
Despite its skepticism, Toyota plans to invest over $29 billion (£23 billion) in electric vehicle development in the coming years.
Toyota’s first fully electric car, the bZ4X, debuted in April 2022 but faced issues, including reports of loose wheel bolts and underperformance in range tests compared to official claims.
Toyoda stresses the importance of not putting all focus on one solution:
"Since the correct answer is still unclear, we should not limit ourselves to just one option," he said.
Toyota’s strategy reflects this belief, focusing on offering a mix of technologies to meet different customer needs and regional requirements. The company also questions whether the global push for electrification can succeed without including other alternatives.
