"Most global carmakers had cancelled or wound back EV targets and booked large losses. On the other hand, Toyota, which was criticized as the biggest laggard in this area, is now ramping up their EV adoption."
"Toyota's plans appear to be to develop a lineup across EVs, gas, plugins, and hydrogen. That means no base is left uncovered."
"The future may be one of $100-a-barrel oil. Toyota has to know it needs to do at least moderately well in China."
"The problem Toyota cannot solve is the lack of EV sales in the world's second-largest car market, which is the US."
Ford has reduced its focus on electric vehicles, while Toyota is expanding its EV lineup. Analysts predict 2026 as the year Toyota will fully shift to electric. Despite criticism for lagging in EVs, Toyota is increasing its adoption amid rising global oil supply concerns. The company aims to compete in crowded markets like China and capitalize on opportunities in the EU and UK. However, Toyota struggles with low EV sales in the US, where Tesla dominates the market.
Read at 24/7 Wall St.
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