Toyota’s CEO isn’t shy about expressing his opinion, saying he believes electric vehicles (EVs) will make up only 30 percent of the new vehicle market in the U.S. by 2030, half the target set by the EPA last year. As the largest proponent of hybrid vehicles in the auto industry, Toyota says it is in a position to buy credits to fill the EPA gap rather than “waste” money on EVs, the executive said.
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In an interview with Automotive News, Toyota CEO Ted Ogawasaid the Japanese automaker plans to follow customer demand — and in his view, that means various levels of “electrification,” typically in the form of hybrids with diesel engines.
Toyota is currently building a $13.9 million battery pack in North Carolina for use in its electric and hybrid vehicles sold in North America. As of 2021, Toyota has invested about $17 billion in its U.S. manufacturing operations to build primarily hybrids
“I know that the EPA is now reviewing what the level of regulation should be. However, our starting point is what the customer demand should be. So, for example, the 2030 regulations said that more than half of the new car market should be EVs, while our current plan is closer to 30 percent,” Ogawa said. “We respect the regulation, but more important is the customer.”
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What about narrowing the gap between the proposed light-duty vehicle emissions regulations and the ones Toyota sells? “It’s a tough question. In terms of regulation, we’d have to come up with something like a credit market,” he told Automotive News. “It’s hard to say, but it’s not better.”
Toyota is one of the top automakers, but electric vehicles accounted for less than 1 percent of total sales last year. “Of course, to compare the battery to Tesla, we’re behind; that may be true,” he said. “But now we’re moving forward, not just on the product, but also on the ecosystem around the battery electric vehicle sector, like charging home”
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Hybrid cars offer many advantages, the most important of which is increased fuel efficiency. Thanks to their ability to use both traditional gasoline and electric power, hybrid cars can consume less fuel compared to pure gasoline-powered cars. In addition, hybrid cars emit fewer greenhouse gases, as electric power produces no emissions at all when used. This means that hybrid cars can help reduce air pollution and combat climate change.
Source: electrek
