Tough times for electric cars: Toyota boss predicts “huge shortage”

Many manufacturers have long focused their plans for the future on electric cars. Alternatives to the battery-powered unit are hardly in question. Not so with Toyota. The Japanese automaker boss still doesn’t want to commit to pure electric cars.

Clear words from the Toyota boss: relying only on electric cars is a mistake

The future of cars is electric. Many manufacturers and brands agree on this point of view. In the EU and some Scandinavian countries or the pioneering US state of California, they have no choice but to rely on purely electric cars, also due to existing and future regulations. But Toyota continues to deliberately swim against the tide in this regard.

CEO Akio Toyoda has now confirmed that nothing will change anytime soon. The Japanese are about to launch the second pure electric car under their own brand. He also expects serious problems for all manufacturers who rely only on pure electric cars and their customers. The goal at Toyota “remains the same, the to satisfy the largest possible number of customers, with the widest possible choice of drives “Toyota boss said in a meeting with US Toyota dealers (source: CNBC).

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These types of units include not only battery-powered electric cars, but also Hybrids and plug-in hybrids, in which Toyota has been one step ahead for years. Also, you want to continue in the future fuel cell that is, building electric cars powered by hydrogen instead of charging electricity in the charging station.

According to Toyota, there are several reasons for this: on the one hand, the market would not switch to electric cars as quickly as is often thought. Also the lack of infrastructure, the high prices and the Customer habits would speak out against itthat everything would be ready for electric cars in a few years.

There are still financial reasons for buying an electric car, but they are under increasing pressure:

The lack of raw materials remains a problem for electric cars

The situation is also aggravated by the situation of raw materials. Toyota expects one “huge shortage” of lithium and nickel in battery quality for the next five to ten years. This would continue to cause supply chain problems and production restrictions in the sector.

Producers, who will then be more dependent on these raw materials, would be hit even harder. Toyota therefore sees itself in the lead because it wants to keep the choice wide for customers.

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