Why doesn’t Toyota want to get into the ev game/market or do they have other ideas or plans.
Why legacy automakers are panicking and Akio had to go
Panic is spreading among legacy auto manufacturers. Toyota lost valuable time and will pay the price.
EV market share has been doubling every year. In 3 years, EVs will represent half of total auto sales. And all these sales will go to Tesla, BYD, and those manufacturers who have a solid lineup of EV vehicles that appeal to customers in all income ranges (for example Hyundai/KIA, VW). Any manufacturer who doesn't have at least 4-5 EV models (a compact hatchback, a small SUV, a mid-size SUV and a couple of premium/luxury models) will lose market share. There is no way around it. Toyota MUST have competitive EV lineup in 2-3 years, or they will become irrelevant. Companies that didn't invest in EV technologies are panicking.
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EV market share has been doubling every year. In 3 years, EVs will represent half of total auto sales. And all these sales will go to Tesla, BYD, and those manufacturers who have a solid lineup of EV vehicles that appeal to customers in all income ranges (for example Hyundai/KIA, VW). Any manufacturer who doesn't have at least 4-5 EV models (a compact hatchback, a small SUV, a mid-size SUV and a couple of premium/luxury models) will lose market share. There is no way around it. Toyota MUST have competitive EV lineup in 2-3 years, or they will become irrelevant. Companies that didn't invest in EV technologies are panicking.
