"Toyota's Strategy: Buying Credits Over EV Investment Pays Off"
TL;DR
Toyota's CEO stated that the company plans to prioritize customer demand for hybrid vehicles over electric vehicles (EVs) and is prepared to buy credits to close the EPA gap rather than invest in EVs. The company is currently investing in a battery complex for EVs and hybrids in North Carolina, and has faced criticism for its focus on hybrids. Toyota is also concerned about competition from lower-priced Chinese vehicles in the US market.
- Toyota says it would rather buy credits than 'waste' money on EVs Electrek.co
- Toyota N.A. CEO Ted Ogawa: U.S. EV demand will be 30% in 2030 Automotive News
- Toyota Says EV Targets Unrealistic, Prefers Buying Credits Over EV Development CarScoops
- Toyota was right about hybrid cars all along. Detroit owes it an apology. Business Insider
- Toyota exec believes full-fledged EV push could be ‘wasted investment’ TESLARATI
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