IMO Toyota is spinning a bit what they're selling and building.
These are the sales figures for 2023:
Toyota is counting its hybrids as electric type cars.
Car types Toyota is building in Kentucky are the RAV4 hybrid and the Camry hybrid.
These hyrbids aren't really pure electric cars, since they have a very low gas usage. I'd consider them more as very efficient ICE vehicles. Which is what US consumers seem to want.
So Lithium demand growth from Toyota will be limited and not as much as from a car company building electric only vehicles.
IMO Toyota is spinning a bit what they're selling and building....
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