Don’t forget the massive sunk costs that Toyota (and others for that matter) have in ICE vehicle production lines. They have dragged their feet kicking and screaming into this EV disruption, regardless of their “but we’ve been here all along, look at the Prius” excuses.
Imo their hand has been forced, earlier than it otherwise would have been, by companies like Tesla pushing the envelope.
It’s business; I get it. No-one wants to be the first to solve the problems and pay the cost of learning. “Second mouse gets the cheese”.
Now they are “on board”, it will be interesting to watch the accelerated tech development and offerings that eventuate.
Exciting times ahead, imo.
AGY Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
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