Toyota Chairman Warns of Job Losses with Electric Vehicle Shift

Akio Toyoda highlights potential job impacts in Japan amid U.S. EV mandates and Toyota's cautious approach to electrification.

Toyota's Akio Toyoda expressed concerns over potential job losses in Japan's automotive sector due to a shift towards electric vehicles.
The Biden administration aims for 50% of new vehicle sales to be electric by 2030, raising skepticism from Toyoda about meeting these targets.
Toyota's strategy includes a mix of EVs, hybrids, and hydrogen vehicles, reflecting its cautious approach to a fully electric future.
The U.S. Transportation Department has faced challenges in expanding EV charging infrastructure, with only eight stations built so far.
Despite a rise in hybrid and electric vehicle sales, EVs still account for a small percentage of total U.S. vehicle sales.