Akio Toyoda claims EVs will only ever reach 30% market share

Akio Toyoda has always been the type of automotive executive to go against the norm. Instead of going head-on into EVs he steered the company away and focused on Hybrids and hydrogens.

While a lot of his peers thought otherwise it seems Toyoda was right after all. Just last year the global demand for EVs took a nosedive, with multiple manufacturers cutting down production lines and even severing partnerships. Toyoda during the Japan Mobility Show (JMS) said in more ways than one that EVs aren’t the only means of propulsion for the future.

Akio Toyoda says EVs will only reach 30% Market Share

In a recent lecture on Toyota’s production process, Toyoda doubled down on his stance regarding EVs. He claimed that no matter how advanced technologies for EVs become the market share will peak at 30%.

He continues by adding that the remaining shares will be shared between hybrids, hydrogens, and even normal old-school combustion engines. During a recent social media post Akio Toyoda beamed about how glad he was to attend the recent Tokyo Auto Salon as a normal car-loving guy.

In this event, he showcased 6 of his cars all of which he drives as much as possible. Among the collection is his Century SUV, GR Corolla, and even a Suzuki Jimny.

His post also highlighted his commitment to other sustainable mobility efforts saying “Carbon Neutrality is not just about EVs, combustion engines still have a practical role to play”. Akio Toyoda also made a passionate plea during his New Year greeting to Toyota employees by saying “Let’s please continue to make engines”.

What will be key now is how true his latest statements are, could the world really be reaching its peak with EVs or are we headed towards a full electric future?

Pablo Salapantan

Pablo Salapantan

Pablo's first word was probably "Car", and this has developed into a personal passion that has consumed his professional life as well.

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