Toyota CEO Warns That Internal Combustion Engine Bans Will Destroy Industry Business Model
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Toyota president Akio Toyoda has lamented the growing hype around electric vehicles and expressed concerns about politicians pushing too hard to ban ICE vehicles.
While speaking at a news conference for the Japan Automobile Manufacturers Association, of which he is chairman, Toyoda claimed Japan would run out of electricity in the summer if all vehicles were electric. He added that the infrastructure needed to support a complete transition to EVs would cost the country the equivalent of $135 billion to $358 billion, according to The Wall Street Journal.