Here’s Why Toyota Isn’t Going All-In On Electric Vehicles, by Tyler Durden

There are pretty good odds that Toyota will not regret its current strategy. From Tyler Durden at zerohedge.com:

While many automakers have committed billions of dollars in recent years to develop all-electric vehicles, Toyota has approached the technology with far more caution – opting instead to continue investing in a portfolio of hybrid “electrified” vehicles, such as the Prius.

2021 Prius hybrid

And while the Japanese automaker was a darling of US environmentalists and ‘eco-conscious’ consumers when the Prius came out two decades ago, given that it was among the cleanest and most fuel-efficient vehicles ever produced – Toyota has fallen out of favor with the ‘green’ crowd thanks to its hesitancy to jump into the fray with fully electric vehicles.

“The fact is: a hybrid today is not green technology. The Prius hybrid runs on a pollution-emitting combustion engine found in any gas-powered car,” said Katherine García, director of the Sierra Club’s Clean Transportation for All campaign, in a recent blog post.

As CNBC notes, Greenpeace has now ranked Toyota at the bottom of a list of 10 automakers’ efforts to ‘decarbonize,’ citing slow progress in its supply chain and sales of zero-emission vehicles, which are less than 1% of Toyota’s sales.

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