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10/09/24

15:05

Post #: 75611192
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Originally posted by wazza2282: ↑

Ok, i had time to read another and it lost credibility in the first paragraph.....

Akio Toyoda, the man who led Toyota as its CEO for 13 years, and now holds the chairman spot, believes that battery electric vehicles (BEVs) are not the final answer. No matter what the auto industry undertakes to promote growth, Toyoda says the electric car segment will only ever account for a maximum of 30% of the market. The fact of the matter is that several markets have already cleared that percentage, some significantly.

Even more surprising is how assertively Toyoda made his remarks. A few nations, mostly in Scandinavia, have already seen EV market shares rise above 30%. These include Iceland (41%), and Sweden (32%) and Norway (80%) which will require that all cars should be zero emission by 2025 which refers to either battery electric vehicles or hydrogen-powered fuel cell cars. In China, where EV sales make up 24% of total sales, the chairman's prediction is expected to be surpassed by the end of 2024.

and this.
It is hard to assess whether Toyoda’s views are shared among his fellow Toyota executives or if his comments merely reflect his personal thoughts towards electrification. It is more likely the latter, though, given that the company says it is prepared to comply with legislation prohibiting sales of gasoline-powered vehicles by 2035, and wants to deliver 1.5 million EVs by 2026, or 14% of its estimated sales total.

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Toyoda was forced to step down as CEO of Toyota by the BoD in 2023. That shows that his thoughts and vision on EV are not shared by many at Toyota.

https://www.nytimes.com/2023/01/26/business/toyota-ceo-toyoda.html

LTR Price at posting: 60.3¢ Sentiment: Hold Disclosure: Held
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Last 83.5¢		Change 0.000(0.00%)		Mkt cap ! $2.024B

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ASX Today, page-44073

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