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Did Toyota refuse to enter the market with the Toyota EV?

Toyota electric car Despite concerns voiced by certain shareholders and environmentalists that Toyota Motor is moving too slowly to Toyota EVs, the corporation remains committed to its electric vehicle plan, which includes hybrids like the Prius.

Chairman Akio Toyoda has constructed Toyota’s business plan on the idea that EVs were not the only answer for car manufacturers to reach net zero emissions. Despite this, Toyoda announced on Thursday that Toyota will continue with plans to offer a variety of so-called battery technology for the coming years.

Toyota electric car

Toyota Motor, with the Prius hybrid, an “electric powered” vehicle and one of the purest and most fuel-efficient automobiles ever created, won the hearts of conservationists and eco-conscious customers in the United States about twenty years ago.

As petrol prices continued to rise, interest in the car increased, prompting other manufacturers to release a slew of hybrid options. The Prius lineup, which now includes a plug-in hybrid electric variant, sells consistently well and is widely recognized as one of the best fuel-efficient gasoline automobiles in the United States.

Although the Prius has been a huge success for Toyota, the company’s reluctance to invest in fully electric cars has caused it to lose some of its most ardent fans just as the automotive sector prepares for a shift to a battery system.

The truth is that hybrids are not environmentally friendly at the present time. The Prius uses the same kind of polluting internal combustion engine as every other fuel vehicle.

Days ago, Greenpeace released the results of research comparing the emissions reduction initiatives of 10 manufacturers. Toyota placed last, with the lowest percentage of sales coming from zero-emission cars like electric vehicles.

Toyota electric car
A power cable sits in the charge point of a Toyota Motor Corp. FT- EV III concept electric vehicle on display during the China (Guangzhou) International Automobile Exhibition in Guangzhou, China, on Saturday, Nov. 21, 2015. The show runs until Nov. 29, 2015. Photographer: Qilai Shen/Bloomberg via Getty Images

Gm, Volkswagen, and other manufacturers have lately pledged large sums of money to build all-electric cars that don’t need gas-powered engines like the Prius. Toyota, however, has been slow to follow suit, just recently promising comparable commitments. It also maintains its investment in an array of “electrified” automobiles, from the Prius to the company’s first fully electric car.

According to four sources familiar with Toyota’s current, still-evolving plans, the company is rethinking its electric car strategy in order to better compete in a rising sector it has been sluggish to join.

If implemented, the changes under consideration would represent a significant departure for Toyota, rewriting the $38 billion EV deployment plan the carmaker outlined last year in order better match the likes of Tesla.

According to the four people, Toyota has established a task force tasked with detailing ideas for enhancements to its current EV platform or for a new design by the beginning of next year.

Toyota electric car
On Thursday, Feb. 24, 2022, a Toyota Motor Corp. bZ4X electric SUV was on display during a test drive at the Sodegaura Forest Raceway in Sodegaura, Chiba Prefecture, Japan. Set for release in mid-2022, the bZ4X is Toyota’s first major global EV offering. Photographer: Kiyoshi Ota/Bloomberg

Some of the 30 EV concepts unveiled by Toyota in December have apparently been put on hold as the company reevaluates its priorities. These projects include the Toyota Mini Cruiser SUV and the rechargeable batteries Crown, as reported by multiple sources.

Toyota has said that it is dedicated to carbon neutrality but has not provided details on any projects it has in the works.

Due to the lack of transparency around the plans, all four of the anonymous sources asked to remain anonymous for this article.

The proposed changes may delay the introduction of EVs that are now in the planning stages. As sales of electric vehicles (EVs) throughout the industry continue to outpace the company’s predictions, this would provide Toyota an opportunity to compete with a more efficient production method.

Furthermore, it would answer the concerns of green investors and environmental organizations who say Toyota, long the eco-friendly industry’s darling, has been too reluctant to adopt electric vehicles.

Toyota electric car

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