Is Toyota Late To EVs?

The problem as you said is that for CNBC, the world means US and Europe but for Toyota, the world includes the 150 or so remaining countries.

The idea of not leaving consumers without a choice is enough of a reason why Toyota should continue to exist.

"Toyota, which sells 10.5 million cars a year in 170 countries, argues that many of those markets aren’t ready for electric vehicles" If Toyota went all EV, they truly would be abandoning a lot of developing nations with no hope of building up electric infrastructure by the time the rest of the industry transitions. They are the backbone of many commercial and domestic fleets

Some people: Everyone must use EV’s. People in developing country: We’re still rely on hand pumps to get our water.

We are missing the bigger picture, which is clean transportation. We could only achieve this with efficient city design, prioritizing walking for small distances, bikes and public transportation for medium ones, and railways for longer ones. It is not about switching cars from gas to electricity, it is about changing our high energy consumption society.

They live in the real world instead of the fantasy that so many are selling, this alone makes me like them even better

Toyota is very wise. They correctly read that EVs were not going to compete long term with ICE and hybrid.

There's no such thing as being late to the EV space. People will always buy new cars. As long as the car Toyota eventually makes has the features a customer wants, they'll buy it

Restisting? isn't it resisting?

Toyota doesn't focus too much about first mover advantage. It focuses on being the most reliable and durable car in any engine type be it hybrid or internal combustion. If Toyota decides to take on the EV market with full speed it's because they are confident that it will be the most reliable and durable in that segment too. That's Toyota's DNA and it's worked very well for them and their customers. This is from a business and customer satisfaction point of view.

2024 and all the “experts” disappeared. Lmao. Toyota wasn’t wrong with their decision to ease into EV rather than just jumping in

Turns out they are right.

I agree with Toyota. I dont own a home, i rent an apartment that doesn't have electric chargers. And there is no way in hell im gonna waste hours siting at public chargers on regular. Electric cars make sense for some more than others

I m a big fan of plug-in hybrids. I go to gas station once every 3 months and don’t have the range anxiety

It turns out that Toyota know more about car manufacturing and their markets than anyone on the internet!

Toyota knows its market and they are not stupid to pour billion of dollars into something which is basically a huge startup and will take decades to be a norm and profitable. Plus Toyota has a reputation of very resistant vehicles. Majority of the world uses them like we used to use Donkeys and Horses. They're so reliable that it's not easy to just discard them.

They're not "resisting"- they're being cautious about the switch unlike almost every other company.

I think Toyota is pretty well positioned with their plug-in hybrids.

Toyota makes sure that they make it right and perfect, as well as, reliable. So that's why their change to EVs isn't as fast as people's demand for them. People want it done now and Toyota wants to ensure that it is done right.

Excellent video. one of the things I think that you failed to recognize in your video is the fact that in 2023/2024 many more manufacturers are jumping into the game with low price entries to the EV markets. I'm sure that Elon had counted on this eventual competition materializing and as you stated in the video the the premiums were captured by Tesla while they could, but now that the competition is materializing they want to remain competitive and therefore are drastically reducing their prices to do so. The premium EV Market is established and we know who the players are. However the race for the mid-level and entry EV Vehicles is now on and Tesla wants to capture a lot of that base.