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Toyota’s chairman doubles down on his electric car skepticism, forecasting that EV adoption will peak at just 30%

fortune.com Toyota’s chairman doubles down on his electric car skepticism, forecasting that EV adoption will peak at just 30%

“The enemy is CO2,” Akio Toyoda said, as he promoted an approach that includes both hybrids and hydrogen-powered cars.

Toyota’s chairman doubles down on his electric car skepticism, forecasting that EV adoption will peak at just 30%

Akio Toyoda, Toyota Motor’s chairman, has never been a huge fan of battery electric vehicles. Last October, as global sales of EVs started to slow down amid macroeconomic uncertainty, Toyoda crowed that people are “finally seeing reality” on EVs. Now, the auto executive is doubling down on his bearish forecast, boldly predicting that just three in 10 cars on the road will be powered by a battery.

“The enemy is CO2,” Toyoda said, proposing a “multi-pathway approach” that doesn’t rely on any one type of vehicle. “Customers, not regulations or politics” should make the decision on what path to rely on, he said.

The auto executive estimated that around a billion people still live in areas without electricity, which limits the appeal of a battery electric vehicle. Toyoda estimated that fully electric cars will only capture 30% of the market, with the remainder taken up by hybrids or vehicles that use hydrogen technology.

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  • My 40yr old motorcycle is still running at 30k miles, mainly because southern California is very dry and non-corrosive. If I were to move back to NYC, the salty roads would probably destroy my machine in short order.

    Regardless, the point is that in an EV, the energy storage part can be replaced while the rest of the system remains functional, without emitting CO2 directly into the atmosphere.

    Packs can be recycled, individual damaged cells replaced if you really want to save money, though I don't recommend it. By nature of system complexity, the dino cars simply cannot run as well as an EV for the same amount of time. Average 6cyl has about 350 individual components within the engine block which must be within very tight tolerances (the crux of the problem), whereas an equivalent power electric motor has maybe 8 parts if air cooled.

    If you trust the engineers in large industrial operations where uptime is key, you'll notice none of the pumps are driven by anything but beefy electric motors, running for years whether interrupted or continuously before going down for preventative maintenance.

114 comments