Toyota Chairman Akio Toyoda recently expressed his belief that battery-electric vehicles will reach a maximum market share of 30 percent, with the rest divided among hybrids, hydrogen fuel cell cars and traditional fuel-burning vehicles. Toyoda, the grandson of the company’s founder, emphasized the importance of customer choice and autonomy in determining the future of the automotive industry.
During the event, Toyoda was quoted in comments on Toyota’s own media platform: “With a billion people in the world living without electricity, limiting their choices and ability to travel by making expensive cars is not the solution.” He further emphasized that the decision on vehicle types should be made by customers and not by regulatory or political considerations.
“There will certainly be motorcycles,” Toyoda said in the company release, although it remains unclear whether he was referring to new car sales or vehicles already on the road. The chairman’s comments also did not clarify his predictions for the US market, where EV market share growth has been slower than expected.
Toyota’s approach to electric cars is remarkably conservative compared to some of its industry counterparts. The company’s steadfast commitment to its groundbreaking hybrid technology has set the tone for its more measured transition to battery-powered mobility, recognizing that a one-size-fits-all approach may not suit all markets and consumer preferences. This conservative stance reflects the company’s pragmatic consideration of global energy infrastructure, customer needs and the longevity of existing fleets, challenging the prevailing trend towards a rapid and exclusive shift to electric propulsion.
About a year ago, Toyoda, then CEO of Toyota, stated that going green also means converting existing combustion engine cars into electric vehicles or hydrogen machines. A few weeks before that interview, the Japanese company showed off two AE86 Concepts at the Tokyo Auto Salon, previewing greener conversations about older vehicles. The first used a hydrogen powertrain from Mirai, while the other used an electric motor from a Tundra hybrid and a battery pack from a Prius plug-in hybrid.