Is Toyota Late To EVs?

Update: On January 26 2023, Toyota announced that CEO and President Akio Toyoda would step down in April and assume the role of chairman of the board.
Environmentalists and electric vehicle advocates are accusing the world's largest automaker, Toyota, for dragging its feet, and even opposing electrification. But Toyota, which sells 10.5 million cars a year in 170 countries, argues that many of those markets aren’t ready for electric vehicles.
The company announced a $35 billion investment in EVs in December 2021 along with an investment of equal size in hybrids and hydrogen fuel cell vehicles. As of early 2023, the company sells only one electric vehicle, the bZ4X, which it has only sold in small quantities. It has, however, said it is planning to release 30 EV models by 2030, which would be a quarter of the total number of models it currently makes.
Will it be able to catch-up with the rest of the world, or is Toyota actually in the driver’s seat by going slow in EV adoption given how small the global market share is in total vehicle sales?
Chapters:
1:43 - Chapter 1
6:43 - Chapter 2
10:25 - Chapter 3
Produced by: Robert Ferris
Edited by: Dymond Green
Senior Managing Producer: Tala Hadavi
Graphics by: Jason Reginato
Additional sources: Toyota, International Energy Agency, California New Car Dealers Association
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Is Toyota late to EVs?

[@abhigyanghosh9330]

The problem as you said is that for CNBC, the world means US and Europe but for Toyota, the world includes the 150 or so remaining countries.

[@patcoakley7980]

Many people dont have Electricity supply yet in third world countries so I can they purchase a EV specially given the cost of EV

[@Brizandeer]

I actually think Africa could be set for a huge revolution if they can finally electrify a grid using renewable solar + storage. They could be one of the big beneficiaries of the green revolution because they are perfect for Solar!

[@hakuhyo174]

EV have less infrastructure requirement than ICE vehicles when it comes to scaling because it relies of existing electricity grid, and if Toyota really cares about third world countries, then they shouldn’t push for hydrogen vehicles - option with largest infrastructure up front cost and least accessible to non-developed countries.

[@marcinm2871]

@@hakuhyo174 lmao the fact they depend on the grid means they have Way more infrastructure requirements. Since most grids are running at near capacity.

[@hakuhyo174]

@@marcinm2871 You’re missing the point. No one is saying it’s easy, but *easier*. It’s easier to scale an existing framework, even one that’s at full capacity, than building something from scratch. There’s literally no existing hydrogen infrastructure, which Toyota is actively pushing while making hypocritical arguments about infrastructure cost.

[@alfkocli]

We are missing the bigger picture, which is clean transportation. We could only achieve this with efficient city design, prioritizing walking for small distances, bikes and public transportation for medium ones, and railways for longer ones. It is not about switching cars from gas to electricity, it is about changing our high energy consumption society.

[@thespaceplaneenthusiast3812]

Spot on!

[@tempbamboo8548]

Clean transport it's just natural food / home grown diet. They like junk food either. People on one side like green transportation, but on the other side getting excited on fuel consuming car, drive a big car more than they need, get subsidized by gov.

[@petesmitt]

The trouble is that modern urban infrastructure has been centred on motor vehicles for several decades; changing that infrastructure to allow everyone that wants to get around without using a motor vehicle is an enormous task, which is why no-one is seriously talking about doing away with the private motor vehicle.

[@toyotaprius79]

+60 years of Privatisation and red-scaring public services gets you that.

[@toyotaprius79]

@@petesmitt an enormous task, like how your government spends $850 billion per year on the military

[@Zachuman]

2024 and all the “experts” disappeared. Lmao. Toyota wasn’t wrong with their decision to ease into EV rather than just jumping in

[@maxpayne7419]

Toyota is very wise. They correctly read that EVs were not going to compete long term with ICE and hybrid.

[@danielhalachev4714]

The idea of not leaving consumers without a choice is enough of a reason why Toyota should continue to exist.

[@kenim]

They are MAD because the biggest player in the industry is not all in about their agenda lol. Toyota is doing the right thing for the customer and their company.

[@waynelewis9110]

@@kenim This is exactly what Nokia and fans of them believed before they got wiped out by the onslaught of iPhones and Android smartphones.

[@thomasward00]

@@waynelewis9110 It will take Decades before EV's will be the standard, Hydrogen is actually a better answer.

[@JoseRodriguez-rx4ck]

@@thomasward00 It might take decades? yes, but hydrogen has a lot of problems in itself, not in the vehicle, I mean production, storing and transportation. The old idea of a combustion engine with hydrogen has proven not feasible, but hydrogen to produce the electricity for the electric motor of the vehicle is a much better one. I think that as of now, there are a lot of companies pursuing battery based tech, it is healthy that Toyota explores other ways, what I dislike is the fact that is tight to a fuel source, I'll be trapped with hydrogen pumps, while with battery based vehicles I could charge with a diesel based station, a gasoline one, a natural gas one, a hydrogen one, it does not matter what kind of fuel or tech is used to produce electricity, it'll charge my vehicle's battery, that is more consumer friendly than to lock me out on a fuel source. Yet again, it is healthy to try something different.

[@KingBravo-lo3vc]

Guaranteed in the next ten years ICE vehicles will become so expensive that only wealthy hobby users will have them. And Electric vehicles will be as cheap as gas cars in the 70s.

[@visho8979]

Toyota doesn't focus too much about first mover advantage. It focuses on being the most reliable and durable car in any engine type be it hybrid or internal combustion. If Toyota decides to take on the EV market with full speed it's because they are confident that it will be the most reliable and durable in that segment too. That's Toyota's DNA and it's worked very well for them and their customers. This is from a business and customer satisfaction point of view.

[@waynelewis9110]

@SilverFish Exactly. People keep making excuses for Toyota, but the reality is that Toyota is being disrupted and is very behind on BEVs, let alone PHEVs. BYD makes more PHEVs than Toyota, and is also rapidly growing their BEV production volume on top of that. Tesla is ramping up production too fast for Toyota. Together, Tesla and BYD will sell over 4 million BEVs alone this year, while Toyota and VW will sell around 16 million ICE vehicles by year end. The gap is closing fast. Tesla and BYD will replace Toyota and VW as the leading global automakers by production volume by 2027.

[@justinshankle]

@silverfish4500 The tech used for plug in hybrids is basically the same as an pure EV, it just has an onboard generator. Their techs already know how to work on these vehicles. Remove the ICE and you only make the vehicle more simple to manufacture and work on. Toyoto is not behind anyone, they are actually far ahead since they make reliable vehicles at an affordable price. Toyota has never been about making flashy super high performance/cool cars, as most people don't care about this, or dont car enough to pay the money for them.

[@bftjoe]

Yes, their bZ4X EV was so reliable its wheels were falling off.

[@dynasty5053]

And that's why we buy Toyota

[@patricksweeney6334]

FMA is of course a very real thing in tech. EVs, though, are way, way past any first-mover-advantage ground that Toyota might purposely have intended to cede to (primarily) Tesla, in order to pull an Apple-like move on the EV market. Toyota has all but missed the boat as anything more than an also-ran. They had the gateway to FMV with the Prius, and they let that go to waste. They sat on their laurels too long, (seemingly) hoping to keep cash in on their PBVs (pollution-based vehicles) for much, much longer... not realizing how much Tesla would make everyone else scramble to even be able to ante at the EV table.

[@prutkul]

Some people: Everyone must use EV’s. People in developing country: We’re still rely on hand pumps to get our water.

[@wgemini4422]

Wow, the sudden bleeding heart for developing countries. Good news for them, EVs are far less reliance in infrastructure, get some solar panels and you would be able to "fuel" your car. You wouldn't need foreign oil companies, foreign refineries, foreign transportation, gasoline distribution networks or gas stations. All you would need is the sun. Hooray!!!

[@jgee9283]

I hear you prut kul. One day our nation's will lend a hand to eachother it takes a process of course. Hang in their as we are all are. And I'm hoping the industry's that are well implemented in these new EV can help each countries especially the hardship ones.. :*(

[@waywardsoul4918]

@@wgemini4422I your dreams maybe

[@MisterSherlock]

@@wgemini4422 You know how expensive solar panels are? Your privilege is definitely showing. A lot of countries simply can't afford solar panels, much less on a decent power grid. California and many major European countries are able to afford them simply because we have the world's largest economies ever. Why haven't you stopped using cellphones and computers since coal plants are powering the majority of the country's power grid to charge that little device for you? Hot water generating from boilers still use gas to heat it up. Oh fun fact: Tesla cars still need oil for a good majority of their components. How do I know? I know people who work at the original factory.

[@wgemini4422]

@@MisterSherlock Solar panels? Dirty cheap and dropping fast, comparing to the cost of a new car anyway. Shipping, taxes and installations? Very expensive in rich countries. I have no problem with oil, just with gasoline since it's not a very good fuel for portable power. Of course Tesla needs oil, oil is used in a lot of things.

[@nolisto1]

There's no such thing as being late to the EV space. People will always buy new cars. As long as the car Toyota eventually makes has the features a customer wants, they'll buy it

[@benjaminsmith2287]

I agree. It's kind of a stupid question asked by too many outlets.

[@willchu]

Obviously, you have never heard of the first mover's advantage.

[@PlymouthNeon]

Agreed. People are keeping their ICE cars up to 20+ years because it costs less to maintain an older car and buy used cars, than to buy new EV's. Until EV's become affordable, financially conscious people won't be buying them.

[@speculawyer]

No, you can fall behind in the technology and thus build inadequate products. Tesla is solving EV problems and issues that Toyota doesn't even know exist.

[@speculawyer]

​@@PlymouthNeonEVs are affordable.

[@SaadNabil]

Restisting? isn't it resisting?

[@tornadotj2059]

I was wondering also. :)

[@waltwiltz8726]

Covfefe my friend

[@cagneybillingsley2165]

because toyota is smart. don't fix what isn't broken. what do you think will happen when everyone goes over to ev? you think the price of electricity with out power grids barely able to keep up now, is going to remain low?

[@devonbikefilms]

@@cagneybillingsley2165 gas isn’t going to be cheaper because hardly anyone uses it, it’ll be expensive and very rarely obtainable after 2035.

[@GGoblin1]

@@devonbikefilms gas hard to obtain after 2035? Any sources to back this up?

[@Ckoudous]

They live in the real world instead of the fantasy that so many are selling, this alone makes me like them even better

[@ttoommssmmiitthh]

YES, this is why Toyota is #1. They arent following the EV crowd. Their analyst see the same concerns the general public has and that were not ready for all EVs.

[@Max_Jacoby]

They are japanese. It is in their culture to reluctantly accept anything new.

[@robertoalexanderrojas460]

Exactly, people genuinely believe the "world" as they called is just US and Europe, Toyota knows their market. Even for me I moved to the Netherlands and have to buy a car, I thought going electric but I found short range cars with too high prices (above 30K) so I ended up with my classic small Toyota, great economy and great price (11K). I know if Toyota goes electric it's going to be an easy to charge, affordable, reliable, safe and comfortable car.

[@griffins750]

@@Max_Jacoby In their culture? What part of their culture is that?

[@Brucev7]

EV Mfg Sourcing, MFG, Pollutes, Uses Child Slave Labor, Mines owned by China, and Pollutes the Rainforest, Uses Reliable Energy

[@rmcc655]

Toyota is smart. They know the majority of their buyers are folks that cant afford 2 cars 1 electric short range and an ICE car for when you need to drive 300 mi. Sure they are slow to make updates but knowing the average american car buyer. They will buy toyotas cars not because they’re innovative but because it has the name toyota slapped in it.

[@GregoryIsom]

Halfway through this video and they haven't even talked about the lithium mining yet. What kind of news coverage is this? Lithium mining is problematic. And Toyota is right. The emissions reductions of 90 hybrid vehicles is greater than the emissions reductions of 1 battery electric vehicle plus 89 conventional vehicles. The amount of lithium required for one battery electric vehicle can be used to make 90 hybrid cars.

[@ALEXFVHS]

I agree with Toyota. I dont own a home, i rent an apartment that doesn't have electric chargers. And there is no way in hell im gonna waste hours siting at public chargers on regular. Electric cars make sense for some more than others

[@adriannalundasan7570]

True. and thats going to be a large marketing ploy for the apartments to raise the price of rent while you still have to pay to use the chargers.

[@DanielK1213th]

@@adriannalundasan7570 the horror

[@UserName-ts3sp]

and it gets too damn cold in the midwest for EVs. i wouldn’t be opposed to a hybrid but i prefer ICE

[@patricksweeney6334]

Just curious: Do you not own a home because you prefer to rent, or because even just getting into a home is cost-prohibitive? Regardless, yeah, it'd be great if apartment-complex-owners would find a moral compass and a) bring solar panels into the mix for providing power at lower cost, and b) add charging outlets where the tenants park.

[@user-sn1se8kh7z]

@@patricksweeney6334 Businesses do not have a heart. When the government offers tax incentives to add these items to new builds then they will make that move. The only thing apartments are worried about is making a profit.

[@ettcha]

"Toyota, which sells 10.5 million cars a year in 170 countries, argues that many of those markets aren’t ready for electric vehicles" If Toyota went all EV, they truly would be abandoning a lot of developing nations with no hope of building up electric infrastructure by the time the rest of the industry transitions. They are the backbone of many commercial and domestic fleets

[@stephendoherty8291]

No car maker beyond a very niche few are all EV. One one succeeds (in fact only one new "larger" entrant globally in decades) . All mass car makers know this EV access is not an option in many markets. The problem is that the cost of developing all cars is often born by making good fat profits from the top end. And at the top end, three markets exist- US-Europe-China (japan internally was one once). At the higher end where cost of EV is less of an issue to buyers, EVs are taking an ever greater share. So if Lexus was to lose most of its market share to pure EVs then Toyota would find making newer ICEs for the mass market alot harder. Choice is already dropping as the SUV market eats other model sales.

[@wemakecookie]

You'd think they wouldn't want to fall behind in the key markets which represent the majority of their sales. Toyota barely sells any EVs. For instance in the largest car market in US, California, Toyota may be surpassed by Tesla as the #1 seller this year! In largest car market by country, China, likely around 1/3 of vehicles sold will be electric in 2023. These are huge markets Toyota is virtually absent from with EVs.

[@stephendoherty8291]

@@wemakecookie China will remain closed as they want their national champions to be protected. Japan did (and still does) the same in its market. The backlash will be when China wants to export into the big profitable markets. At present Europe is not protecting its own, as it wants to push its local car firms to be scared into making good EV products. China will find the US less open when it already does the same to US car makers ( most have left due to frustration in selling there). Tesla is only allowed to succeed there, to offer a nicer export brand to Europe and for Chinese firms to learn from a leader. The Japanese market (outside niche premium car sales) is also a weird one (microcars dominate) and shrinking every year in volume as the population size ages. Yet Toyotas (and Japan car inc) relies on US sales to stay afloat and generate the cash to remain a key player globally. As long as 2 of the biggest US states are not going to copy CAs efforts to curb car emissions, CA (and other similar states) will remain a pesky problem but not a big one, for now. China wants to export its EV strength. Europe is the logical 1st market.

[@wemakecookie]

@@stephendoherty8291 I disagree, I think what is happening in California is a prelude of what's to come to the rest of US soon. If you look at Cali EV marketshare 2-3 years ago, it's about the same as the current US EV marketshare. Toyota sells many vehicles in the EU and China as well and those markets are converting to EVs at an even faster rate. Toyota doesn't have the EV production to keep up, nor plans to grow its EV production quickly enough. And the growth in developing countries vehicle sales isn't enough to compensate. Also developing countries may skip the ICE vehicles and go right to EVs, the same as they did with landline phones, instead going straight to mobile.

[@stephendoherty8291]

@@wemakecookie Its unlikely that the charging infrastructure in developing countries (think Africa/South America/Low Income asian and middle eastern counties) will be there to allow a jump to EVs. Many African countries and some in Asia have trouble with getting electricity not to mention reliable power for an EV car move. China was already moving that way and yet western brands were even slow then to offer EV models (most were trying to meet demand in their "home" markets if they sold any).

[@cede-hf7vi]

Turns out they are right.

[@princedavidowusu6794]

right about what? i see china flooding into the market with lots of Evs

[@arthurtennessen9680]

A year later, it seems Toyota is right to wait and see...

[@wjkalana100]

I m a big fan of plug-in hybrids. I go to gas station once every 3 months and don’t have the range anxiety

[@zlonewolf]

Also you can change the small phev battery in 1 hr for $2k. A fully EVs requires weeks to preorder and cost as much as the vehicle itself or 25k or more.

[@PC-vq5ud]

@@zlonewolf Wrong

[@redwhite_040]

They can produce 10 plugin hybrids out of one EV battery.

[@magallon643]

Here a Fact it's only a matter of time before all Ev,start to become cheaper to buy than a gas Car

[@leer663]

The problem with plug ins is the fact that many are never plugged in. This is a common story in Europe anyway.

[@samlepro3]

They're not "resisting"- they're being cautious about the switch unlike almost every other company.

[@wgemini4422]

Yeah, like so many companies during the switch to smart phones.

[@fridgemagnet9831]

Exactly, Toyota is conservative and will move cautiously. Same with all other technology they put in their cars, like turbo chargers.

[@markwilliams7226]

the thumbnail for the video says Toyota is "restisting", not "resisting" (whatever that means)

[@wgemini4422]

@@fridgemagnet9831 So was Nokia. EVs are making renovations much faster in the car industry (because the drivetrain is inherently simple and reliable). Toyota is being "conservative" and being left behind. In a certain degree, all traditional car companies have been slow to adapt.

[@harpreetsinghmann]

Toyota will be Nokia of automobiles, if they keep going this way.

[@parrish8386]

Excellent video. one of the things I think that you failed to recognize in your video is the fact that in 2023/2024 many more manufacturers are jumping into the game with low price entries to the EV markets. I'm sure that Elon had counted on this eventual competition materializing and as you stated in the video the the premiums were captured by Tesla while they could, but now that the competition is materializing they want to remain competitive and therefore are drastically reducing their prices to do so. The premium EV Market is established and we know who the players are. However the race for the mid-level and entry EV Vehicles is now on and Tesla wants to capture a lot of that base.

[@leojack9090]

@Charlotte Claire yea transportation, e-commerce among other sectors are expected to experience growth, but who knows, the market has been a basket of surprises.

[@georgelucas-kw9vb]

@@leojack9090 Such market uncertainties are the reason I don’t base my market judgements and decisions on rumors and here-says, got the best of me 2020 and had me holding worthless position in the market, I had to revamp my entire portfolio through the aid of an advisor, before I started seeing any significant results happens in my portfolio, been using the same advisor and I’ve scaled up 750k within 2 years, whether a bullish or down market, both makes for good profit, it all depends on where you’re looking.

[@ava61329]

@Elizabeth O'Neil How can I reach out to this coach? because I'm seeking for a more effective investment approach How good is this person at portfolio diversification?

[@hellojmar]

Toyota makes sure that they make it right and perfect, as well as, reliable. So that's why their change to EVs isn't as fast as people's demand for them. People want it done now and Toyota wants to ensure that it is done right.

[@speculawyer]

But Toyota did invest big in hydrogen fuel cell cars....and they have been a MASSIVE FLOP.

[@hellojmar]

@@speculawyer still a very well built car not something a lot of companies would dare to try, if any.

[@rajarshiroy2599]

I drive toyota carolla 2018. really good car but hydrogen cars were a flop. No company is immune to flops. Time will tell if Tesla or Toyota wins

[@bigbusiness7035]

@@speculawyerEV was a massive flop for 100 years.

[@jazzcatjohn]

Not necessarily. Toyota does have an electric vehicle on the market and it's a piece of crap.

[@tcsmagicbox]

I think Toyota is pretty well positioned with their plug-in hybrids.

[@pbreedu]

They only use gasoline when you drive a while between charges. I usually drive short distances so most of the time I would be driving electric with a hybrid plugin. Only a few times a year would I use gasoline. Gasoline has a shelf life of about three to six months so if it has been a few months since you filled it up you may want to deliberately not charge it. That way you burn the gas before it gets too old and bad for your car. Alternatively, you could only put gas in the tank when you are almost out of battery power or are going on a long trip.

[@bmw803]

I have a VOLT (gen1) so, about 45 miles before the engine comes on. You get to drive an EV 80% of the time and put gas when on long trips. No need for expensive L3 chargers or modify any electric setups.

[@albeit1]

@@pbreedu the last strategy would work well most of the time, except when natural disaster strikes and the power goes out for days. But it’s not like you’d be taking a lot of trips then either. On the other hand, I’ve only refilled my tank once since the pandemic started. No issues…so far.

[@turbostixxx]

To go bankrupt.

[@paulsi1234]

@@turbostixxx haha, I don’t think so!

[@oldnepalihippie]

I've driven a 2005 Toyota Boon for a decade or so, and at 35mpg+ all this time, with little emissions and no oil burning, I'm delighted with the company. Where I live, EVs are not practical, as there are zero charging stations, and there won't be any for the foreseeable future. I suspect most of the world (at least in the global south) is in the same gas-driven boat.

[@patricksweeney6334]

(Also, um... not young...) "Where I live, EVs are not practical, as there are zero charging stations" Ok... Do you live somewhere that makes charging at home impractical/impossible? The only time I ever charge at a charging station is on a road-trip.

[@oldnepalihippie]

@@patricksweeney6334 yes, we just got 24x7 electricity here (Nepa) in the home a few years ago, before that the house ran on truck batteries. Even now, power cuts are like weather events... ya never know (we keep those truck batteries just in case). Most places I've been in the world of late look just like that, or worse. Sure, farmers here would love a tesla truck, but barely have enough power for the lights, or they would have to charge it using a diesel generator. And there's the rub.

[@OrchidBangladesh]

EV commercial life is also short like any rechargeable device .

[@magsteel9891]

@@patricksweeney6334 just because you have a consistent place to park where you can plug in doesn't mean everyone else does. I lived in New York City for years and every night just finding someplace to park that wasn't blocks away was a chore. You have to open your mind to the reality of other people's lives

[@patricksweeney6334]

@@magsteel9891 "I lived in New York City for years and..." Anyplace as densely populated as, say, NYC is a strong candidate for almost no one owning a car anyway, right? The challenge with that being that (usually-underfunded) public transportation has to be able to serve people-moving needs. One mind-opening that we as a society need to have is that, especially in-town, moving vast numbers of individuals around in massive steel cages (whether pollution-based or EVs) just doesn't work anymore. Considering how effectively the oil industry and legacy automakers have crippled public transportation, though, I'm real curious how we get out of this quagmire...

[@ahsanarshad918]

Toyota knows its market and they are not stupid to pour billion of dollars into something which is basically a huge startup and will take decades to be a norm and profitable. Plus Toyota has a reputation of very resistant vehicles. Majority of the world uses them like we used to use Donkeys and Horses. They're so reliable that it's not easy to just discard them.

[@deaddoll1361]

They're very successful in the car industry, while many others have come and gone. EV's have generated a lot of hype but are still impractical for the majority of people in developed countries, and impossible for those in less developed ones.

[@REAL-UNKNOWN-SHINOBI]

Oh you mean unlike the Toyota Mirai, which (at least in the United States) can only be utilized in California?

[@paulm2467]

It turns out that Toyota know more about car manufacturing and their markets than anyone on the internet!

[@philippecr]

Most EVs are still expensive and unaffordable for most. Cheaper model only mostly mean less range and more compromise, which put it very unfavorable compared to ICE cars.

[@rabbit251]

I saw a story on NBC News and affordability of an EV is complex and depends on where you live and where the car is made. EVs made in the US are eligible for a discount from the Federal government. You may also get a discount depending on which state you live in. They looked at one women who went with the EV and paid only $25,000 but normally sold for $35,000. Looking at a comparable gas car for $25,000 and there was nothing close to what she was getting. And when the Ukraine War started sending gas prices soaring, she was probably extremely happy she had went with the EV.

[@gurumage9555]

EVs are just as cheap if not already cheaper than an equivalent ICE vehicle. The upfront cost may be more, but remember that with ICE vehicles you need to spend a lot more on maintenance and more expensive fuel cost over its lifetime. Battery costs have fallen by about 90% in the last decade, and that trend will only keep going as new battery technology and manufacturing improve. It's only a matter of time before EVs become cheaper in infrastructure cost than ICE vehicles, and not just in life time cost.

[@toninhosoldierhelmet4033]

@@gurumage9555 problem is the rest of the world, brazil, were i live EVs are significantly inferior than plug-in-hybrids, charging infrastructure and maintenance makes EVs something only the elite can afford, a hybrid corolla is half the price than most of the cheapest EVs corrently on sale around here, also plug-in-hybrids can be zero emission through most of the year if the battery can cover atleast 25 miles a day.

[@IonorRea]

RAV4 Plug-In cost as much as the Toyota BZ4X battery electric car of a similar size, but while Toyota can produce plenty of hybrids it has limited battery production capacity for battery-powered electric vehicles. Not to mention that when Toyota finally managed to switch most of its cars to hybrids, and this tech finally starts paying off in high sales, Toyota sure will not hurry to pour a massive amount of money into successor technology which plenty of customers either cannot afford (even if it may be cheaper in the long run anyway) nor large portion of the customer base has house with a garage or sufficient infrastructure around to make BEV sensible choice for mass producer of car. The last thing Toyota wants is to produce far more of a currently higher class only BEV than is the market with the current state of infrastructure demanding, and with the limited battery production, low-cost BEVs just did not make economic sense to produce...

[@tomcat8662]

The success so far for EVs has relied heavily on government subsidies. That means an involuntary wealth transfer from ICE drivers to EV drivers through taxes.

[@Dragon228833]

My main 3 problems with evs: 1) Not everyone has a place to charge these vehicles. Will those who live in apartment buildings have to line up for hours to get a spot at a charger since it can take an hour or more to get the car fully charged 2) I doubt that our power grind can handle everyone charging a car when everyone’s fridge gets less cold in the summer when the ac’s get plugged in. Parts of our power grid are also reliant are fossil fuels 3) they don’t shoot flames

[@ryanmartin73]

Exactly!

[@deathgun3110]

For No. 2, an major grid renovation seems unavoidable for every country to handle future conditions, electrification deosn't stop at EV's but also includes, induction stoves heatumps (from consumer ones to several hundred 100 Mwh big industrial ones), electric arc furnaces, other industrial appliances and the changing input from variable renewable electricity sources.

[@Dragon228833]

@@deathgun3110 sounds astronomically expensive

[@manp1039]

i live at a place where i don't have a charging station and don't have the ability to add one.. this is the reason why i don't get an electric vehicle at this time. i think the Prius is a great car.. i have driven them thousands of miles. they are quiet and ride very smooth. and get very very good gas mileage. many car campers like to use the prius to car camp in.. because of their ability to turn on and off the engine to keep the battery charged up and keeping the air conditioning on over night.

[@sanket.hande9]

And other point ev’s are not environment friendly as marketed

[@joelgarcia3907]

wonder what these guys are saying in 2024 when EVs are not selling at all in the US and hybrids have seen a huge growth

[@ThatOneRightThere]

Toyota knows a lot more about making cars and the market more than people who like to theorize and criticize on the internet. EV's cannot compete pound for pound when it comes to utility. They are a luxury item. We seem to ignore the costs on the environment and humanity when it comes to sourcing the materials to produce the components, the energy to power the vehicle, and disposing and recycling of these components after the car's battery dies in 8-10 years and costs more than the car to replace.

[@lepidoptera9337]

Less than two seconds 0-60 can not compete? Dude, you need to stop drinking. ;-)

[@claytonjames4779]

Why haven't they talked at all about the plug in hybrids like rav4 and prius prime? Those are very good bridge vehicles above just simple hybrids as we move to integrate more battery operated vehicles. Some people will use almost no gas with 40 miles of range if they can change at work or anywhere else.

[@lorenfok1097]

Those vehicles are extremely hard to get. Always back ordered because they are made in Japan. And if you are able to get your hands on one be prepared to pay anywhere from $5k-$10k mark up from dealer. And NO federal tax credit $7,500. A 2023 RAV4 Prime XSE trim could cost almost $55k after mark up. That's entering Tesla Model Y territory. I love Toyota vehicles but the dealership experience and low supply of Prime vehicles really is bringing them down.

[@LionheartLivin]

As I understand it, don't most PHEV owners rarely plug in? What would be needed to have most PHEV owners plug in more, is it realistic to expect they'd plug in more?

[@donswier]

That's 14,000 miles annually all-electric by simply plugging in overnight to 110v outlet. -Where we live that's 1/5 the cost of gas ⛽️ -Never hostage to public charging that's often ICED, occupied or broken. - Refuel on long trips in 60 seconds, not 30 to 360 minutes

[@vicjay1972]

@donswier6048 Hybrids are the worst of both worlds and most plug in hybrids never get plugged in.

[@vicjay1972]

@clotshots9072 it's just a fact. Maybe you would plug in, but the stats show most don't. Does saying the truth make me an idiot you moron.

[@jsnow6925]

I trust Toyota and their decision making over any politician. I bought a 2021 4runner a few years ago, quality and reliability is on another level

[@kalebdaark100]

A few years ago?

[@jsnow6925]

@@kalebdaark100 yes, I bought it in September of 2020

[@jsnow6925]

@@kalebdaark100 If you want to be technical lol How many is considered to be a few? How many is a few? A few is generally considered to mean between two and several. Some people use a few to mean around three, but this is not a universal interpretation. Its meaning is highly relative to the context-it often depends on what's being discussed, especially the scale and expectations.Apr 12, 2022

[@kalebdaark100]

@@jsnow6925 Personally I would probably start calling things "a few" as more than 3 and less than 10 but I agree that it's a very in exact definition. But your original post implied you had the vehicle for somewhat less than most peoples idea of a few years. To expand on your original and clarified post, your point seems to be that you have not had any significant problems with the vehicle in a little more than 2 years of ownership. What problems were you expecting the have in that time?

[@jsnow6925]

@@kalebdaark100 It is a free world, you can do whatever you like. Just pointing out that was the correct definition. I typically do not follow other people's made up definitions but I will try to accommodate you next time so I do not hurt your feelings. Do you have special pronouns as well? No, I was not expecting any major problems but in that time I got a pretty good idea about the build quality. I also researched long term reliability before I bought it and Toyota ranked near or at the top in most categories. I drive my cars until the wheels fall off and my two previous Infinity's both had major issues at around 150k. If you have any other special requests or concerns, feel free to list them

[@Swift_Suzu]

According to Toyota, the lithium used in one pure electric car is equivalent to 10 hybrid cars. Combustion engine still needed!

[@dianapennepacker6854]

And yet. Even then? The ICE even in a hybrid still produces more harmful chemicals over its lifetime. Lithium is now being recycled. Can't recycle the gas can you?

[@tommccabe1019]

Toyota was right everyone else is too early and suffering badly for it!

[@alikj3322]

Toyota might not be good for selling electric cars but they’re definitely the best for hybrid car. In my country ( Morocco ) most of their sales are hybrid and it’s a good intermediate when transitioning to electric cars

[@danielkrall6501]

Sounds to me like Toyota is just playing it smarter. Also, as more stories come out about how horrific lithium and cobalt mining is as industries, I have a feeling that some of the appetite for large amount of batteries is going to wain.

[@tubyrash]

There is not enough raw materials to produce batteries for all EV needs and also producing them harm the mother earth adversely

[@205rider8]

Battery materials are virtually 100% recyclable. Petroleum is not. Real simple. common sense.

[@patricksweeney6334]

No, to Toyota "playing it smarter"... they're (arguably) just dragging their feet as lonnnnnnng as they possibly can before reluctantly abandoning their pollution-based cash-cows. But yes, Lithium and Cobalt mining both absolutely have human rights issues. Buuut... if you're sincere about giving even half a sh*t about that, do some minimal Googling on (e.g.) Shell oil and its African atrocities. Battery tech is rapidly changing, though, with Tesla (for example) looking to lower or remove the need for both Lituium and Cobalt in their battery formulations. Unlike the fossil-fuel-pollution industry and its ills. So, no, it isn't the case that "some of the appetite for large amount of batteries is going to wain", it's that the appetite for human-acceptable battery improvements will continue to rise.

[@footballhighlights7222]

@@205rider8 common sense? what about cobalt mining?

[@jacobcarlson4010]

@Football_Highlights: His comment was about recycling, not extraction. Nice job on trying to misdirect there. But since you brought it up, let’s point out that gasoline refinement uses cobalt to remove the sulfur from the crude oil. And while EV batteries are able to pivot away from using cobalt, refining gasoline is not. Moreover, refining gasoline also requires Platinum as an “octane booster”. And last time I checked, platinum is also a fairly rare metal here on earth.

[@chubbymida]

The “experts” here from Sierra Club and Gartner must be so humiliated seeing that just one year after this video, Toyota is right in telling them “Told ya so.”

[@dread69420]

Toyota isn't just focused on a few key markets, Toyota knows that its a global player, a truly global one with a reputation you simply cannot buy for money or flashiness/hype.

[@SasukeUchiha-zu6dw]

I don't care if it's gas, EV, hybrid, hydrogen or something else. But it must be able to do everything the vehicle it is replacing can do including range, fill up time, payload, towing etc. for a similar cost. We don't rely on 1 tech now or put all our eggs in 1 basket and we aren't going to in the future either. Different use cases will be powered differently.

[@Booz2020]

Make TOYOTA Trucks Great Again 💯 Scotty Kilmer 😎

[@zannierzan9634]

My gas guzzling car cannot run on feeds, guess I have to buy a horse after all.

[@SasukeUchiha-zu6dw]

@@zannierzan9634 that's the beauty of it everyone can buy what works for them

[@MrXtraconservative]

This statement is false: "But it must be able to do everything the vehicle it is replacing can do including range, fill up time, payload, towing etc." It simply must do enough of these things better so that people want to buy it. This has already happened, hence the millions of EVs sold by Tesla each year. And hence Tesla's 40% annual growth while all their competition keeps getting smaller.

[@SasukeUchiha-zu6dw]

@@MrXtraconservative it's not false as I am taking about my needs and wants which won't apply to everyone but to some others. It hasn't happened yet I have a car that gets 350 miles to a tank minimum all city driving, and over 500 on the highway. And when I'm ready to fill up it does so in under 5 minutes no EV can do that yet that I know of. Even EV trucks haven't caught up to their gas/hybrid counterparts. I'm not saying they will never get there but they ain't there yet.

[@bentullett6068]

From a UK point of view we are starting to see people finding out that EV's aren't working for them and are trading in their EV's once their three year finance deals are up to either hybrid or conventional internal combustion engine cars. They have found that the battery range the manufacturers state for these EV's in the brochure aren't true, they have had many faults with the cars breaking down due to computer issues (some due over the cloud to updates) and the charging infrastructure, even though it has been increased, is still hopeless when the chargers don't work and the electricity prices in the UK have increased like they have across the globe and charging a EV is more expensive than a combustion engine car (solar/wind charging is only a possibility in the UK if you have deep pockets to pay for installation and the solar/wind power systems). Toyota are wise to stay as they are. The hybrid side does work and with the development of clean synthetic fuels it could mean that hybrid could still be a viable option for people who want to drive long distances.

[@chowsquid]

Toyota is just saying the market is telling them people still prefer non BEV. If the market says 100% BEV, they’ll go there. It’s just so much hype on BEV.

[@bentullett6068]

@Jim my there is that much hype on the BEV market that Citroën have decided to start re-selling their petrol and diesel versions of their Berlingo passengers carrying vans as the electric version they placed their bets on being popular isn't as popular as it seems. Just drove past a Porsche dealer near where I live here in the UK and an awful lot of Taycans are on the used car lot area.

[@PP-oz2oj]

EV’s are expensive and charging infrastructure is just not there either.

[@ommanipadmehung3014]

Petrol cars are expensive and I don't like being at mercy of constantly changing gas /petrol prices when I can charge my electric car at home for free with solar panels.

[@bentullett6068]

@ommanipadmehung3014 have fun when you need to replace your battery then.

[@lxc9970]

And 1 year later Toyota is right about EV. The take rate is much lower after the hype now.

[@rickbarnard-uj8hs]

Toyota is smart, no one wants a electric car that is unreliable in hot or freezing weather

[@anchorsaweigh9893]

Toyota makes terrific Hybrids. They should continue to dominate this space. I own all Toyotas and they are very reliable vehicles from Tundra, Camry and RAV4

[@summerslider2487]

my man

[@sheirsly]

Plug in hybrids are awesome. Use electricity 70-80% of the time but no range anxiety. Use a tank of gas every quarter to avoid fuel degradation.

[@jsnow6925]

Do you have a RAV4? That is a good combo to be able to drive short and long distances

[@thedumbconspirator4956]

Electric cars are mainly past range anxiety. You can get a model 3 with 300 miles of range which is more than enough range. Most EVs can also now go 250 mi

[@dzcav3]

@@thedumbconspirator4956 250 to 300 miles (under ideal circumstances: not too hot, not too cold, new battery) is NOT more than enough for many people. Maybe it is for you; but that doesn't mean you are most people. I occasionally take long trips (~1000 miles) that I want to complete in ONE day. Stopping four times en route for an hour or more (ASSUMING there is a working charger with no line of cars waiting) on the route that I want to travel (without detours) is not acceptable.

[@DanielK1213th]

@@thedumbconspirator4956 we have an EV at work and nobody wants to use it because it drives short distance and it takes long time to charge. Basically it’s a less ideal way to drive.

[@vjhicks8533]

@@thedumbconspirator4956 sure but there are still areas, perhaps more rural and cold that range anxiety is legitimate. If you are a farmer who uses a big truck someplace like rural Nebraska, a model 3 or Y won’t cut it especially in the winter. No that’s not most drivers, but the fact that the case still exists is enough to scare off some drivers who probably would be fine on an EV.

[@chrispaul3778]

When you invest you're buying a day you don't have to work

[@alicemark5918]

@benkent6187 You're right, it's obvious a lot of people remain poor due to ignorance

[@royalhighness8383]

I'm looking for something to venture into on a short term basis, I have about $6k sitting in my savings

[@lovecricket6736]

Starting early is the best way to getting ahead of build wealth, investing remains the priority

[@josephfrys6969]

I advice everyone to start investing and never rely on just salary. No billionaire made it through salary

[@royalhighness8383]

I'm new to this Bitcoin trading, how do I get started with the help of a professional?

[@k1fizz]

If Toyota listened to Katherine Garcia they'd be having layoffs like Ford and GM now.

[@tofuyam7361]

IMO a hybrid corrolla/prius/camry/rav is likely the optimal solution for the next 5-10 years. Gas cost is low, maintenance is low, and energy availability is high.

[@redwhite_040]

or plugin

[@MrMlbfan6]

There’s a reason they haven’t move to electric , also hybrid is way better than electric

[@petrusa.pechar4748]

@@MrMlbfan6 way too much. EVs aren't the future for me...

[@rabbit251]

Statistics would prove you correct. The video said that hybrids has 6% of the market and is probably growing plus electric just doesn't have the infrastructure. I used to work for Toyota and then other related car companies. For the current market Toyota is excellently placed. (I'm not a fan of Toyota, it really is a terrible company to do business with and work for, but as a lawyer and businessperson I rely on facts and statistics.)

[@NhatHanPham]

@@rabbit251 I love Toyota, I hate their stand on anti-climate policy and political contribution

[@althafaltezza]

I just don't want to charge for 8 hours only for 300km, after all in my country Indonesia, the majority of our electricity still uses coal. I am a consumer who still prefers vehicles with gasoline until all electrical utilities develop much better than they are now.

[@hdaviator9181]

Turns out they where right...

[@Indipuk]

Toyota lives in a real world where 5 bilion people dont have reliable access to the electricity. What EV 😂

[@Stefan-hf6xb]

Has no one noticed they spelled it "RESTISTING" instead of resisting on the thumbnail??

[@lifeisbutadream6152]

I kept seeing it and wondering if it’s a legitimate word lol so I clicked on this video to see the comments. 😅

[@firefly4907]

Many people just eye ball the title, they don't bother with spellings. Well, but those who do read the title, Cnbc will fix this after a while.

[@petesmitt]

incredible that it wasn't checked/fixed before posting..

[@Ruslan_0990]

So 2050 is considered moving aggressively?

[@CTOInformation]

India said 2075, LOL

[@papercut1987]

well, my wife said she'll be ready in 5 mins.....it's all relative lollll

[@fitybux4664]

Most of Gen X will be dead by 2050. 💀

[@fortheloveofnoise9298]

@@fitybux4664 more like 2060, but i get your point

[@Ruslan_0990]

​@@fitybux4664 Gen X will be deaf by 2050 because they're walking with headphones all day

[@Alessandroabbatecola]

Is heartbreaking seeing people in front of me at the grocery store taking all the instant noodles from the shelves; no meat. Kids asking for a chocolate bar and the parent scolding the child for asking, its evident the system has failed us and does intensify the essence of investing, the market is just so rough

[@matthewhuo6543]

There are actually a lot of ways to make high yields in a crisis, but such trades are best done under the supervision of Financial advisor.

[@williamadams2361]

@@matthewhuo6543 I'm sure the idea of a coach might sound generic or controversial to a few, but new study by investopedia found that demand for portfolio-coaches sky-rocketed by over 41.8% since the pandemic and based on firsthand encounter, I can say for certain their skillsets are topnotch, I've raised over $650k from an initially stagnant reserve of $150K all within 14months.

[@donaldkelk]

@@williamadams2361 I've always been fascinated with investing and I need to start now. I will appreciate any tip or pointers please?

[@williamadams2361]

@@donaldkelk 'Debbie Pattinson' is actually the one that guides me, she's a highly-sought out adviser, so I'm not certain she's accepting new intakes, but you can give it a shot. It wouldn't be proper to just leave her number lying around, but she has a webpage you can look at if you google her name.

[@williamadams2361]

INVEST DEBBIE PATTINSON

[@bulkmailbullseye70]

IF CNBC can’t editorial check spelling of the program title. why should one trust the validity of the content facts, etc. ?

[@ubacow7109]

Toyota is just playing it safe as always. They're never really late, they just operate slowly.

[@paperhouse6282]

And slowly towards bankruptcy

[@robertnicholson6686]

Kodak and Nokia also played it safe.

[@tonespeaks]

@Ubacow They are late to the party, the question is can they even be competitive. So far, the answer is easy......No.

[@BooleanDev]

typical Japanese bureaucracy

[@benjaminsmith2287]

@@tonespeaks Maybe you shouldn't look at "so far" and be locked into this annoying "disruptive theory, Toyota is Nokia narrative" That shows short-sightedness and a lack of weighing other scenarios to be locked into this one scenario. Toyota has been a leading company for decades. They know when to pivot and don't think for a second they don't have a plan to do so.

[@davidtitanium22]

I think the plugin hybrid cars covers a slightly different market than all electric vehicles, but it's still an important one. People that's cautious of ev's weaknesses but still care about their carbon emissions will need the option

[@fynkozari9271]

I think they need to use a better tech than toxic lithium ion. Not only it's harmful to humans and environment, it's extremely slow charging.

[@Artyomthewalrus]

@SilverFish Lithium batteries use lithium..... It is in the name. LFP stands for lithium ferro-phosphate. What you are thinking about is cobalt, which they cut out in comparison to regular lithium batteries. And yes, cutting out cobalt is very important.

[@jonahansen]

But EVs don't necessarily reduce carbon emissions.

[@jonahansen]

@SilverFish How do you figure? I'm sure it's cool to drive. The problem is, EVs are not necessarily going to reduce carbon emissions. Their manufacture just offloads a boatload of emissions to the countries that produce the elements for the batteries and so each EV, when new, comes with a huge carbon footprint. And, if the electricity used by the EV is generated by coal or gas, they are net emitters. Here's a video that gives an accurate analysis: kzbin.info/www/bejne/aqTEZn2hmsqliNE

[@foxgood]

@SilverFish If your power plant is coal or natural gas, your electric car is not carbon neutral. Unlike countries that have hydroelectric power stations. There you can say that you drive without emitting carbon monoxide

[@maxheadrom3088]

I think plug-in Hybrids are better than fully electric. One thing people seem to forget in these videos is how much carbon and pollution is generated by Li-ion battery manufacturing. I also have not seen much about HCCI engines around. (not sure it's HCCI - it's a ICE used by Formula 1 cars that has a thermal efficiency above 50%)

[@ekim4926]

U mean mentioning that you don't really reduce pollution, you just put the pollution away to some place that's not directly in front of you? Why on God's green Earth would they not mention that?

[@rogerphelps9939]

You have been conned by fossil fuel interests. Very little carbon and pollution is generated by lithium ion battery manufacturing. In fact EVs pull ahead of ICE cars after only a few thousand miles.

[@foxgood]

Difficult for Toyota to abandon their hybrid system which it controls perfectly, for a 100% electric system which will bring them back to square one in terms of efficiency and durability, while their hybrid system is recognized for their efficiency and practically lifetime no-hassle warranty.

[@twocansams6335]

Heavy machinery like excavators, bulldozers and large dump trucks can't run on battery's, hydrogen development will continue along side electric.

[@sizzlacalunji]

I have the same concerns with EVs as Toyota has. I live in a place where it gets really really cold. Losing ranging for 5-6 mths of the year won’t cut it for me. Also EVs would not satisfy trips done during the the holidays. Too much time would be lost charging.

[@propellhatt]

Well, let me ease your concerns. I live in Norway, it gets kinda cold here and we have huge distances to cover with cars. I swapped my 2010 ford focus 1.6 diesel for a Hyundai Kona electric 64kWh in may 2020, and have driven 87k kilometers since then, including to the northernmost part of Norway and to Italy with the same car, driving purely electric. I have had no problems with the Kona, while the Ford had several reliability issues. Access to charging infrastruture and the time required for charging on longer drives is not an issue, at least for most of Europe. France and Italy are lagging behind, as is eastern europe, but other than those, driving an EV is not a problem. Yes, I lose some range during the toughest winter days (by about 25%), but again, not really an issue. I still have enough battery that I only need to stop once every 4 hours, tops. And then, by the time I’ve had a meal and a restroom break, the car’s plenty charged and I’m ready to go again. The time of EVs has definitely come, and Toyota isn’t interested in keeping up.

[@sizzlacalunji]

@@propellhatt thanks for that feedback. Appreciated but how charge get while eating a meal. I will have an occasional 1500km trip with my family and a possible 4000km trip every now and then. I guess I would have work out the stops to get enough charge right?

[@propellhatt]

@@sizzlacalunji yeah, for those longer trips, especially to or through places where you're not all that familiar some planning makes a lot of sense and will make the trip a lot more enjoyable. But that goes for all longer roadtrips as well I reckon. A lot of high power chargers, at least in Europe are placed close to restaurants or similar setups where food is available, but not all of them. Using a tool such as a better route planner aids a lot

[@amosbatto3051]

@@sizzlacalunji , If you live in the US or Canada, only Tesla is recommended for long distance driving because the CCS network isn't very reliable and there aren't enough stations along the highways. In Europe, CCS charging is much better.

[@AllthingsRocco]

@@sizzlacalunjijust have a full meal every 2-3 hours of driving..😂

[@nova8585]

Toyota: We're conservative on electric cuz the charging infrastructure isn't there also Toyota: We're investing in hydrogen which has practically no refueling infrastructure and no one else is building one

[@encabsss]

Well said! The infrastructure isn’t there yet!

[@phuongdu1781]

The problem is that battery material is heavily mined from China. Toyota is absolutely do not want to depend their supply from China. I think China supply like 60-80% material component for EV batteries.

[@alhkcblack9617]

Hydrogen everywhere seems kinda dangerous. Way more explosive and volatile than gasoline I think.... Don't make sense.

[@paperhouse6282]

Toyota = Nokia

[@technicholy1299]

Japan will have red hydrogen (derived from nuclear) by the time Toyota is ready. Toyota has always been Japanese market first.

[@Hogger280]

Toyota is not behind, just the contrary, they have been perfecting electric drivetrains for a quarter of a century but they are smart enough to know not to bet on a dead horse(EV's). Hydrogen drivetrains are also an expensive dead horse. Hybrids are the best way to go. Hydrogen vehicles are no more "zero emission" than the power plants that supply the energy to produce the hydrogen.

[@therolando608]

Given the current battery supply chain shortages, it is important to note that using ~100kwh of battery material to get 4 people driving Toyota PHEVs is better for the environment than 1 person driving a 100kwh BEV and the other 3 driving an ICE vehicle.

[@rui569]

Toyota sold all is shares in Tesla in 2017. damn!

[@KingSobieski]

Dang, Tesla stock just lost 3 years of gains. Now you can buy a Prius for 27K that gets 60mpg. What's the point of EV's?

[@gamefather9105]

@@KingSobieski batteries degrade after 5 years. Toyota is all about longevity and reliability. Ev’s are a scam

[@QH96]

@@KingSobieski better acceleration, 0-60 around 3 seconds, model 3 has 130 MPGe. Electric car still works out cheaper over the long because of fuel cost. I would still get a Toyota/lexus thou because of Tesla's garbage build quality

[@KingSobieski]

@@QH96 once everyone gets into EVs the govt is going to need to bring out higher property taxes on EV vehicles to offset the loss from gas tax needed to maintain roads. No one is actually going to get to 'save' money.

[@ttt3377]

@@QH96 and tesla are too heavy :(

[@kseyffert]

Insane! Just because you label something as enviro mentally friendly does not make it so, or even that it can work. Then you want to blacklist anyone who opposes you in anyway. Just simply insane!

[@twitter.comelomhycy]

I agree 100%

[@jim3832]

There is no disadvatage to come in to EV battle later for Toyota. All the information cant be hidden these days. They will research other's failure well and come up with perfect product when the time is right. Toyota already has great number of patents on EV technology as well.

[@90sanime52]

In a world where pretty much everyone’s going electric, Akido Toyoda remained a genuine car guy through and through and, dare I say it, looks out for all of us fellow car guys/girls who still have the burning passion for the internal combustion engine at a time there’re slowly being phased out. Until then thank you Mr Akido Toyoda

[@YTYTYTY7]

Well. He's gone.

[@gregripp]

Genuine dinosaur more like. Everyone's next vehicle has to be 100% EV if we have ANY chance to slow climate change.

[@matthew_natividad]

@@YTYTYTY7 didn’t he just step down to chairman?

[@KTPurdy]

The short answer is that Toyota is the ICE worldwide guerrilla. No market guerrilla leads the charge away from them.

[@troyfall6573]

Toyota now produces 2 million less vehicles today than they did a few years ago. That gorilla will continue to lose market share as EVs are already coming down in price to close to ICE cars. I wouldn't want to be sitting on 200 billion in debt while making horse and buggies as Ford introduces the model T.

[@noob.168]

@@troyfall6573 ah lets ignore the pandemic and supply shortages.

[@troyfall6573]

@@noob.168 They have lost market share in China, Australia, Europe and the US. All carmakers went through the same pandemic.

[@bturcz4025]

Toyota isn't being outpaced. They are avoid company headaches. Problem 1: The grid can't support all these batteries. They aren't going to build a grid. Problem 2: Batteries are expensive to make. They'll wait for someone else to make the cheaper option. Problem 3: If a Toyota is an accident, the battery alone cost more to replace than the car is worth. So they don't rely on EVs. Problem 4: Customers don't have the $$$ to buy electric cars. So they offer alternative products.

[@user-bo1ux2pv1l]

I don’t think Toyota is too late to the EVs, the environment friendly materials and comfortable inner designs, the enough and proper spaces among passenger sits, hope they can keep their advantages or good-at, to guide a better living with car style.

[@paulantonio740]

Good for Toyota to offer a wide option range for its products. But one thing that this piece didn't mention is that much of the electricity required to power EV comes from coal-burning power plants.

[@tjones2260]

And also mining lithium is as bad on the environment. Imagine the amount of lithium that has to be mined to electrify all the vehicles in the world. It is insane. They have to come up with some other options. They should pump more resources in perfecting the hydrogen technology, that's the only sustainable technology I see at this point. All these battery Tesla nonsense is really not sustainable in the long run.

[@taejo4975]

They ignore the very thing that power battery.

[@V8_screw_electric_cars]

Inconvenient truth!

[@deaddoll1361]

@@tjones2260 Unfortunately a lot of technological improvements are a long, hard grind with no guarantees. Politicians like to make it appear like they're doing something, especially when they don't have to do much to achieve that. Enacting legislation in the hope that technology will somehow find a way is hardly scientific. As far as Lithium goes, much is made of its mining being bad for the environment, however mining for anything has a negative impact environmentally. Air and water pollution, loss of biodiversity through massive habitat loss, toxic chemicals and acidic water release are common with many mining processes. Tetraethyllead was used as an octane booster and valve lubricant in fuel since the 1920s and the residue now sits in the soil to the point where raised garden beds and clean soil are recommended for vegetable gardening. Massive open cut mines continue to expand without any clear strategy as to what will become of them once they're no longer economic. Coal mines especially can't be just left, as a fire, once established, is impossible to extinguish, as has happened in the past.

[@alexantran]

Yes, 90% of Australia electricity comes from Fossil fuel.

[@tigerrx7]

So basically Toyota sees the world as its customers, Tesla sees North America and China. Keep in mind, this company had a technically successful F1 team, they’ll be fine and I’ll be buying a plug-in hybrid until then.

[@cocoapebbles13]

Big facts

[@elapplzsl]

LOL Toyota will loose big. US, China, EU, Asia all don't have sufficient oil reserves. But they do have lots of ways to generate electricity, all those countries will push towards BEVs.

[@KRYMauL]

Toyota goes along with what the Japanese government says, and Tesla goes along with what the Chinese government says. Plain and simple.

[@gikigill788]

Technically successful is a great way to hide their F1 failures despite their massive budget.

[@skiran6316]

Not a successful f1 team they were a failure you might be talking about some other motorsport

[@auwalismailsulaiman605]

Most companies only consider US and European markets, Toyota considers the whole world as a potential market. Most of the world don't have the infastructure to support EVs. Even US and Europe have places that can't support EVs.

[@cafe88racer53]

this didnt age well lol

[@EstebanLopez-nv1lh]

I think they have plug in hybrids that give u a battery with 100 miles . I think, for now, that’s a perfect vehicle. I rarely drive more than 100 miles in a day. And having a gas motor for those long distance is perfect, especially since we still don’t have that perfect charging infrastructure

[@hawklord100]

Most hybrids do 60 miles on a full charge but of course you are dragging around a ICE engine and the rest of the weight so it is an expensive option if you want to save money.

[@marcosgazamanes6165]

Hybrids don’t even do a mile in full electric only, the engine doesn’t doesn’t weigh as much as you think, batteries also weigh a whole lot.

[@mayaram2411]

Prius Prime has a pure EV range of 25 miles. RAV4 prime is 40. Personally, I'd rather use it in hybrid mode. You can get more than 100 mpg-e.

[@jasonlaboy]

@@marcosgazamanes6165 a plug in can go 60 miles or so, regular hybrid doesn't.

[@marcosgazamanes6165]

@@jasonlaboy thanks, said hybrid’s that’s what I was addressing.

[@daff5507]

toyoda’s right, ev are cool and nice and it does help earth. but the miles/battery ratio isn’t their yet. there wont be a huge specific market for EV’s when most people wants miles and convenience

[@echoeversky]

Uh...is anyone going to tell them?

[@taejo4975]

I don't think polluting with huge mining for materials to use battery is that healthy, sticking to hybrid is better.

[@jethromorquecho517]

But they are doing R&D in solid state batteries since 2012 at least. One thing is that they are not good at marketing or advertising but they are working on in-house batteries. Not like the other car manufacturers that rely on companies that made them the batteries like Panasonic for Tesla LG for GM or with the solid state batteries from solid power for Ford and BMW

[@kiankou1]

We already knew Toyota's approach was right. EV is one of the options, and not necessarily fits to all circumstances.

[@pauldorset2124]

Picked up a new corolla last week, hybrid system is very good. Stats show over the first 50 miles driving a combination of urban and UK country lanes EV mode is at 54%. With a range starting at 612 miles combined petrol & EV. That's an acceptable compromise to me. Full EV is only good for those with a home charging set up and either solar or turbine charging to make it financially viable. How many working people can tick that box? PS, the background music throughout this video ruined the experience, totally unnecessary.

[@V8_screw_electric_cars]

hybrid makes sense, electric is idiotic

[@Jeddin]

If you are the global leader in ICE cars why would you want to pivot to EV where your competitor has a technology and market advantage over you? Especially when hundreds of thousands of Japanese jobs rely on the secondary market of supplying your ICE industry

[@renezr70]

Ignorance is bliss. Just look at the sales trend for all Japanese automotive. All are trending down for the last 5 years. Toyota lost 9% of global sales but Honda did the worst this year loosing more than 30%. The 2 biggest markets for Toyota are the US and China and both are banning ICE vehicles in 2035, so what are they going to sale then?

[@troyfall6573]

When you are 200 billion in debt you are going to be in trouble as the world transitiions to a new product and you stand still. They already produce 2 million less vehicles today than they did a few years ago. Toyotas biggest market is the US and they are going to be late to the game.

[@ChristianRunsNY]

@@renezr70 There won't be even a hint of a full ban unless the infrastructure is there, which is a reason most people don't go EV. If things move in that direction beyond broken electrify america kiosks, then I'm sure it would open up their wallet to EV development.

[@renezr70]

@@ChristianRunsNY false, the electric generation has grown around 4% each year for at least the last decade and with the new IRA law this is going to accelerate. There is also the deployment of residential solar power which is giving homeowners more energy independence.

[@jont2576]

Third world population is still massive and a 7 billion human being market waiting to be developed and exploited,these people are poor as hell and sure as hell can't afford no ev,if u can afford a $2000 second hand Toyota u are considered middle class in Iraq and pakistan.the third world will be the biggest market for secondary luxury used Toyotas.most of these countries are dilapidated,they barely have enough toilets as it is let alone EV charging infrastructure,ffs they don't even have drinking water u expect them to have ev charging stations?however anyway a man can carry a Jerry can of gasoline,u can charge a Toyota.

[@kabuto310]

Did anyone else read the thumbnail? What the heck is restisting? I think CNBC needs to check that again. 😅

[@CG_Hali]

Subaru is also staying 'behind' and not switching over to EV like the others. Their market is a lot of people in rural places or city folks with cottages in rural places. We could not go up our driveway without our Subaru. We live only 3 hours from Toronto but our region lacks proper internet connectivity everywhere which impedes electronics for many of those EV (especially Tesla), there's only 2 charging stations in the village for and which are overtaken by tourists from May to Oct, the roads are really tough with lots of hills and long distances to go to town (1.5 hour and back) to access healthcare, and frequent power outages when there's a storm. So the only ones we see around here are the literal millionaires on nice days or AirBnB tourists. Batteries will need to do a lot better before our rural town can catch up.

[@daviddavid1320]

I like how they failed to mention Toyota and pretty much all the Japanese OEM had the most issues with supplies and lowest days inventory compared to all other automakers in 2022.

[@EmmaNguyen-mg5xq]

@@xong8254 🤣🤣🤡🤡

[@vigorosoPIMPJr]

@@xong8254 you’re totally right the largest share on the planet is Toyota no wonder they run out of vehicles

[@alanross2243]

And how they failed to mention the unreal recall levels of ford and GM.

[@Agent-lr4ez]

@@alanross2243Tesla also had recalls

[@teoengchin]

It's telling that they choose to be led by the market instead of leading the market

[@LionheartLivin]

Well said!!!;)

[@kevinfernandez9999]

Naa they are still market leaders

[@jfgoulet]

It seems like CNBC is looking for a problem where I feel they've made the case for why it make sense for Toyota and a lot of people living in big cities across North America. The infrastructure for EV's is simply not enough and the overall maturity of the solution not up to par with what is coming in the next 10-15 years.

[@alexrojasbr]

I have to agree with Toyota’s strategy. It’s 2024 and we have long ways to go in the matter of improving EV’s infrastructure

[@aaronrichards817]

The Koreans are doing to the Japanese what they did to American automakers in the 70's

[@johnw4067]

Korean cars aren't anywhere near Japanese reliability. I have had both.....no contest.

[@ammysclub]

Late or not to this, but you'd need a waiting time of less than 1 year here in Canada for hybrids and months for non hybrids. 😢😒

[@vaishakviswam1970]

Lack of some political and business will in Canada to resolve the issue on times.

[@TheFiftyQuid]

Toyota came out with the Prius and it took years for everyone to catch up. Was there a CNBC video about every other car maker sitting on their hands while Toyota innovated? Cut them a bit of slack.

[@mediocresultan5610]

Why does anybody not talk about the supply and demand problem that will occur when let us say we all go electric , and is it environmentally cleaner to produce electricity and batteries than to go on with hybrid or hydrogen ?

[@lloydranola]

I’m glad hybrids are still around, but was sad to buy an EV this year without having Toyota as an option to consider.

[@patricksweeney6334]

(chuckling) I'm on the other side of the fence regarding hybrids, but when I decided to abandon pollution-based vehicles in 2019, I was similarly sad. After decades of being a huge fan of Honda tech and quality, and buying used Honda after used Honda after used Honda (cuz they last forever) Honda had no EV to offer me. Honda *so* let us down in that way. Borrowed enough to make my son's eyes roll, and bought a Tesla. I'll probably never look back or buy anything else... or at least never buy from a company trying to perpetuate pollution-based vehicles while feigning an interest in EVs.

[@krissp8712]

Yeah, Toyota does offer tons of hybrids. Like the documentary mentions at 5:10 they've got them in tonnes of different sizes. I guess that helps them keep up on electric tech without changing everything out for dedicated electric!

[@deaddoll1361]

@@patricksweeney6334 You mean companies that realise there are many people in the world who can't take out an eye-rolling loan for a car. Go on feeling smug and superior about your "investment" but just buying a new car of any kind is way out of the price range of many. Just one of the many massive container ships that traverse the globe generates the pollution of 50 million cars in a year, so your "sacrifice" is cancelled out in seconds. EVs are responsible for a lot of hype, but the largest pollution sources still fly under the media radar.

[@007mooo6]

​@@patricksweeney6334 EVs are just as bad and even the mining of materials such as cobalt for tesla involves child labor

[@hamsteerio]

CNBS makes commercials to appease their investors

[@danny01678]

2024 Toyota was right.

[@fanom1]

I agree 100%..the current EV battery is NOT the battery we will be using 10 years from now. Today it takes 500,000 tons of earth to be dug up to get the elements for the average 1000 lb EV Battery. Toyota is hedging its bets. Solid state batteries are also looking good. We are decades and trillions of dollars away from going 100% electric.

[@mujkocka]

Depends on your use case and where you are really

[@MBarberfan4life]

Toyota is hedging its bets? By not investing in EVs AT ALL????? What?!

[@karlkelly9005]

The other reason is that they don't have a significant source of lithium and they don't want to be dependent on sources from China.

[@troyfall6573]

Lithium is an abundant resource around the world. They just need to make deals with miners in Australia, the US and Canada. CATL and BYD have made significant breakthroughs on Sodium Ion batteries which are 4x more dense. Expect to see sodium batteries in 2024 or 2025 which will increase range and drived down the cost.

[@karlkelly9005]

@@troyfall6573 good info, thx👍

[@MattCasters]

Tesla is moving into Lithium refinement which is the real bottleneck, not availability of Li.

[@troyfall6573]

@@MattCasters Australian researchers have patented a new method of processing the lithium which almost doubles the yield. Chinese processors destroy approximately 50% of the lithium during refinement whereas the new process obtains 98% of the lithium. Australia used to just mine the metals and now they want to process them in their country because it will be much cheaper for the customer to transport the processed lithium instead of the heavy ore. I watched a video by Electric Viking talking about it last year.

[@Avantime]

And Toyota's two big markets, Japan and the US are nearly immune from Chinese competition. The Japanese never brought Korean cars and neither will they buy Chinese; the US government works actively to disadvantage Chinese carmakers so as to keep them out. In Europe and Australia the Chinese brands MG and BYD are starting to take significant EV market share because of their low cost, and EVs have few moving parts so reliability is expected to be good. Also the transition to LFP (which the Chinese are leading) is expected to prolong the life of EVs, as the battery chemistry can take a real beating and still maintain a long lifespan.

[@colbs3440]

Toyota is working on a solid state battery (leads in patents) that should be out in the next few years. Those will be placed in hybrids first to test then I'm sure they'll systematically roll them to plug-in hybrids then EV's. If they hit their goal with the SSB (~350mi per charge) all of this criticism will fade. Until then, I'm all for their hybrids, and when I finally get solar added to the house I'll move to 1 plug-in and 1 EV.

[@Kanazawa1997]

can't agree more

[@waynelewis9110]

If/when solid state batteries go into production, high volume producers of BEVs such as Tesla and BYD will have way more expertise around BMS and efficient BEV architectures. Anyone who believes that Toyota is in the know about solid state batteries more than Tesla and BYD are severely mistaken. Tesla and BYD are two of the largest consumers of batteries in the world. Their business models heavily rely on battery technologies. With their BEV production prowess, Tesla and BYD will both be able to quickly switch to solid state battery chemistries if need be, so the production of solid state batteries actually makes Toyota’s future prospects even worse when you think critically about this. Toyota barely consumes any batteries to produce their vehicles. Their knowledge on ICE vehicle technology and architectures will not suffice in the transition to BEVs. NIO, Zeekr, Aito and others are also coming for ICE vehicle market share. They are all gaining experience with BEV production and growing their market share, thereby increasing their mindshare.

[@lo1409]

SS battery is not going to be made for mass production. You should check why SES decided to stop developing it and focus on Lithium metal instead. Even Redwood materials do not consider the SS battery. Having patents is whole lot different from having mass production technology and knowhow. Think about why TSMC dominates the semiconductor foundry industry.

[@colbs3440]

Where did I mention Tesla in my comment? Or that TM is "in the know more than Tesla or BYD"? You're free to have your own opinion on the subject, which you clearly do, but there is no need to assume I had no critical thought about this. I just prefer TM's approach. They are moving a bit slower than I'd like but I understand not wanting to produce a vehicle that bursts into flames. Not to mention, where I live there aren't a lot of places available to charge a BEV, and even if there were I'd rather not wait 45min. Also, servicing a TSLA problem requires a flat bed and a 3hr road trip for the car from here so again, I'll stick to my Toyota/Lexus Hybrid/plugin for the next 5-10 years.

[@colbs3440]

@@lo1409 Fairly certain TM has a partnership with Panasonic to produce SS Lithium batteries. I think that'd be more than enough mass production capability between the two and more than enough know how. Perhaps they fail and can't produce a SSB for mass production as you posit, however, I'm taking their word that they're working on the technology and given their past results I think it'll be fine.

[@thatfloridian5719]

With Evs you could have 1 ev, 5 plug in hybrids or 50 hybrids using the same amount of battery’s

[@user-vb3wo2ez6l]

I have heard that EVs have heavier batteries, which causes more wear and tear on tires, and that environmental pollution caused by tires is more severe than in other vehicles.

[@lukemenezesdasilva3450]

Im not against EVs, but could someone explain to me how exactle these cars are better for the environment? Nobody talks about the amount of resources needed to produce those batteries, the lithium, the cobalt need to be mined somewhere to produce them. I honestly really do hope they are better for the environment, but if they arent then those rising stats of sales are trouble.

[@HammamOrabi89]

No one speaks abut that enough! they either complicit or ignorant or just like the hype

[@r2dad282]

EVs are NOT better for the environment. You're hearing from a small segment of the population who like to virtue signal how progressive they are by buying a product that generates a huge amount of pollution outside the US and relatively less inside the country. They are parochial, mathematically-challenged nit-wits--ignore them.

[@XGlite015]

I wonder how big EVs will become in the next 10 years. Will it be as big as the transition from analog to digital. Because I remember the time that Kodak was a leader in the photography business, but their reluctance to adapt digital photography as soon as possible because it will cannibalize sales of film and hasten the death of the film photography led to their downfall. What if a similar scenario happens to Toyota?

[@crappyslippers6917]

I don't think that's the right assumption. There is no natural resource limitation for the Digital camera. Additionally, technology while being experience to R&D, can be very cheap to produce. That is not the case with EVs, which are anything but cheap. Even if there will be a transition, it would never be swift or cheap.

[@zlonewolf]

@crappy after 5 years Tesla owners will need to shell out 50% of the car value to change the battery. The old battery will cause alot of headache for environment 😆. Battery will dry up once more people buy EVs making owning one as expensive as buying a new home. But EVs lose 50% of value every 5 years due to worthless battery going dead. 😆.

[@jools2323]

@@zlonewolf Does anyone still believe that crap, despite all the evidence to the contrary?

[@landcruiser801]

There was no law banning film photography or Betamax... this is not a free market outcome.

[@spazzman90]

@@zlonewolf Dude, it's 2023. Quit spitting out your patently false info like its still 2017.

[@MrFeasterbunny]

Nobody wants to buy a car that you will have to essentially throw away when the battery is going to need replaced. They are being smart.

[@danny-fu2zd]

Judging by how reliable all their vehicles are, I would immediately buy a Toyota EV the moment they release one with a higher range.

[@patricksweeney6334]

As a decades-long Honda lover (for reasons of reliability and general engineering talent), I waited for the longest time for Honda to bring out an EV. And waited. And waited. And waited. For... twenty years, maybe? I finally gave up and bought a car from a company devoted to just EVs: Tesla. Honda lost their opportunity, and (in me) lost a decades-long loyal customer. We'll see how Toyota fares.

[@patricksweeney6334]

@@mojozepeda lol... I have no illusions regarding any significance to Honda about my reluctant departure from the ranks of long-standing, delighted owners. I just think it's really unfortunate that they ceded so much ground to others by dragging their feet on bringing out an actual EV. From a sentimental standpoint, though, I do hope they pull their collective heads out soon enough to be a player in the EV market. They have the talent... but the will...?

[@Uwowbanget]

Let say if the battery will cost 50% of the car when it was brand new, and you need to replace the battery after 10 years. I think i’ll just get myself a corolla

[@zlonewolf]

10 years? More like 5 years. Battery loses 25% capacity every few years. This is in a single battery. A grid of battery will be compounded in terms of how one battery gone bad can affect the ENTIRE battery array making it worthless.

[@L3x4Pr0ne]

@@zlonewolfthis is based on what exactly? Multiple Evs on the road now with 100K+ miles, nearly 10 years on the same battery. Degradation, sure, but not what you’ve mentioned here.

[@troyfall6573]

You are basing this off of 2015 information. If your information on battery tech is 6 months old then it is ancient. Current batteries have a lifespan of 500,000 miles. LFP batteries used in Teslas will have a lifespan of 1 million miles. CATL and BYD are investing heavily in Sodium Ion batteries which will be 4x more dense and have even longer lifespans. Bottom line is the batteries going into cars in 2023 will outlast the body of the vehicle 2x over.

[@TheBooban]

@@troyfall6573 i think they will do like Apple. Make something that last’s forever until you software update it and it goes so slow you need a new car.

[@ECC83]

@@TheBooban What Apple did was to slow down the processor at a low state of charge on old batteries to avoid unexpected shutdown. Old batteries aren't as capable of sustaining current draw without a larger voltage drop occurring, so by slowing down the chip at a low state of charge, Apple made the decision to keep their phones reliable.