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.
Toyota s CEO Claims Electric Vehicles Are Overhyped - Care To Set Him Straight?
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SHARE THIS ARTICLE Toyota President Akio Toyoda inadvertently made a case for Tesla Energy while speaking during a conference for the Japan Automobile Manufacturers Association on Thursday, December 17. Toyoda stated that EVs were “overhyped” and suggested that more of them would actually worsen carbon dioxide in Japan, considering the source of the country’s electricity. Companies like Tesla Energy may be part of the solution to the issue Toyoda described.
Toyoda calculated that Japan could spend between ¥14 trillion ($135 billion) to ¥37 trillion ($358 billion) to build the infrastructure for an entire EV fleet, reported The Wall Street Journal. He also suggested that the country would run out of electricity if the roads were dominated by EVs.