Toyota’s President Has an Opinion on Going Totally EV

Gasoline Power is Being Phased Out by US Automobile Manufacturers

According to Statista, General Motors and Volkswagen have already announced that they will follow California's lead and phase out internal combustion engines by 2035.

Honda, which ranks fourth in 2021 total car sales, has stated that it will phase out gasoline-powered vehicles by 2040, but Ford, which ranks second in 2021 overall car sales, has not committed to a date to stop selling gas-powered vehicles.

China is also putting pressure on the EV sector, not just because of pandemic-related limitations and manufacturing closures.

Chinese manufacturers Nio (NIO), Li Auto (LI), and BYD had strong November results. And acccording to J.D. Power, the all-electric vehicle market accounted for around 6.5% of the entire new car market in October.

BYD said it sold 113,915 completely electric vehicles in November, a 147% increase year on year. It also sold 116,027 plug-in hybrids, an increase of 164% year on year.

Nio said on December 1 that it delivered 14,178 vehicles in November, a new record high, representing a 30.3% year-over-year rise.

On December 1, Li Auto said it delivered a record-high 15,034 EVs in November, representing an 11.5% year-over-year growth. The total number of deliveries through November reached 236,101.

Japan's Toyota (TM), which ranked first in total U.S. auto sales in 2021, has been a pioneer in hybrid and plug-in hybrid technology since the introduction of the Prius in the 1990s. Nevertheless, the world's largest automaker has yet to commit to an all-electric car market. According to Electrek, Toyota had sold only 232 of its first 100 percent EV vehicles, the bZ4X, by early October and is not going to ramp up production until 2025.

Japanese Automobile Titan Is Unsure About This Trend

Toyota's slow adoption of all-electric cars was emphasized by the company's president, Akio Toyoda, during a visit to Thailand, according to the Wall Street Journal.

Toyota has been slow to embrace the all-electric trend, preferring to concentrate on a selection of gasoline-powered automobiles, hybrids, and hydrogen-powered vehicles rather than transitioning to all-electric models.

Akio Toyoda said that the car industry's workforce is mostly the silent majority. That silent majority questions whether EVs are genuinely acceptable as a single alternative. But since they believe it is the norm, they cannot speak out.Mr. Toyoda also claimed that because the right answer is still unknown, Toyota should not limit themselves to just one alternative.