Toyota Chairman Predicts Limited Market Share for EVs

Akio Toyoda believes EVs will only capture 30% of the global market, with the remainder taken up by hybrids and hydrogen vehicles.

Toyota Chairman Akio Toyoda predicts that electric vehicles (EVs) will only capture 30% of the global market, with the remainder taken up by hybrids or vehicles using hydrogen technology.
Toyoda argues that customers and the market, not regulations or politics, should decide the future of vehicle types.
Toyoda highlights that around a billion people still live in areas without electricity, limiting the appeal of EVs.
Despite skepticism, Toyota plans to sell 1.5 million EVs annually by 2026, and as many as 3.5 million by 2030.
Toyoda warns that banks may stop loaning to companies that don't fully embrace the green agenda.