Toyota Chairman Says Electric Cars Will Never Dominate Global Market
BY TYLER DURDEN
TUESDAY, JAN 23, 2024 - 08:00 PM
Toyota's chairman and former CEO, Akio Toyoda, is at it again: providing the public with a dose of reality that electric vehicles will never dominate the global car market.
Toyoda, grandson of the founder of the world's largest car manufacturer, expressed at a business event this month, as reported by The Telegraph, that EVs will never capture 30% of global market share.
He explained that petrol-burning vehicles and hybrids, along with hydrogen fuel cell vehicles, will dominate.
Toyoda made the point: How can EVs be the future when a billion people on Earth have no electricity?
Data from Statista shows nearly a billion people in the world are living without electricity.
He noted: "Customers — not regulations or politics — should make that decision."
Over the years, Toyota has openly demonstrated defiance against governments and NGOs pushing for 100% EVs in just a few decades, if not earlier.
https://www.zerohedge.com/technology/toyota-chairman-says-electric-cars-will-never-dominate-global-market
