Toyota: No Rush To Build EV, Non-Electric Has A Lasting Role
If I were to say that the end is near for gasoline vehicles and that EV cars would soon take over the world, I know there will be some laughs.
If Toyota Motor Company says it, then suddenly people listen, though there is also some laughter for those who have already adopted EV.
This story is fascinating when Toyota announced the building of the BZ4X concept into an actual electric vehicle.
Shigeki Terashi, director at Toyota Motor Corp in Aichi, Japan, said, "in the years leading up to 2050, different options including hybrids and fuel-cell vehicles need to compete against each other so that the company is left with the best options."
This statement is what I want to pick apart and uncover what I think is the real reason Toyota does not want to play heavily in the EV game.
Reason One: Fuel Cell
Everyone knows that Toyota makes the best hybrid vehicle. Of course, other companies compete with Toyota in that space, but we all know they own it.
That is not the point here; it is a fact the Terashi specifically said, fuel cell. So that tells me Toyota is either too proud to admit a multi-billion-dollar failure or believe fuel cell technology will work out.
I will be the first to admit that I did not think Tesla would do this well. A viable electric car company? Come on. Elon Musk certainly proved me wrong on that.
My thought is that if Elon can pull of Tesla Motors, Space-X, and the Boring company, all while manipulating the crypto market to bend to his will, can Toyota make fuel cell happen? Indeed, something to think about.
Reason Two: Gasoline Is Still The Majority Market
Look, I love an excellent EV, but mass adoption is going to take time. Speculation from Honda, Toyota, GM, Ford, and other companies have all said different time frames. The reality is even if all carmakers started today making only EV cars from here on out, our economy would collapse.
All of the carmakers suddenly placing such massive demands for batteries would run prices through the roof. Not only that, but think about the demand it would put on the power grid. It would all be devastating to our economy.
To have an EV take over is going to take at minimum a decade, if not more. Toyota understands this, and it makes sense.
In other closing words, Terashi also said that fuel-cell cars need to compete with each other. I feel that the downplay of the EV market is a ploy like Elon and Bitcoin.
I could be wrong, though; I do not have all the data sitting before me stating otherwise. However, logic tells me that the most significant fuel-cell player tinkering with EV does not want to get their pride hurt.
Anyway, this is another adventure. Remember Today's Adventure is Tomorrow's Story. Take a look at this story for a trouble code you could have issues with.
Check out this wild new battery tech that Tesla has and why it will forever change the auto industry.
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Peter Neilson is an automotive consultant specializing in electric cars and hybrid battery technologies. He holds a Bachelor of Science in Automotive Service Technology from Weber State University. Peter can be reached on Linkedin and you can tweet him at The_hybrid_guy on Twitter. Find his page on Facebook at Certified Auto Consulting. Read more of Peter's stories at Toyota news coverage on Torque News. Search Toyota Prius Torque News for more in depth Prius coverage from our reporter.