Under the guidance of Akio Toyoda, Toyota has directed its attention away from the development of electric vehicles in contrast to some other automotive brands.
The former CEO, now serving as the chairman, has steadfastly adhered to the brand’s strategy, emphasizing a diverse range of powertrains.
Recently, during Toyota’s New Year’s conference at the Tokyo Auto Salon, Akio Toyoda expressed optimism about the continued significance of combustion engines in the automotive landscape. According to reports from Bloomberg, he asserted that electric cars would not dominate the market.
Bloomberg further notes that Toyoda anticipates electric cars will hold a maximum market share of 30 percent, with the remaining 70 percent comprising vehicles equipped with combustion engines, hybrid powertrains, and hydrogen technology.
Toyoda’s perspective is grounded in the belief that the world’s diversity demands a more inclusive approach, allowing Toyota customers the freedom to choose their preferred mode of transportation without undue influence from regulations or politics.
While under the leadership of the current CEO, Koji Sato, Toyota seems to be increasing its focus on fully electric cars, it is expected that the brand will persist in emphasizing non-electric vehicles in the years to come, reflecting a commitment to a balanced and varied approach to powertrain technologies.
