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Toyota’s Chief Says Electric Vehicles Are Overhyped

Toyota’s Chief Says Electric Vehicles Are Overhyped

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Akio Toyoda says converting entirely to EVs could cost hundreds of billions of dollars and make cars unaffordable for average people

TOKYO: Toyota Motor Corp.’s leader criticized what he described as excessive hype over electric vehicles, saying advocates failed to consider the carbon emitted by generating electricity and the costs of an EV transition.

Toyota President Akio Toyoda said Japan would run out of electricity in the summer if all cars were running on electric power. The infrastructure needed to support a fleet consisting entirely of EVs would cost Japan between ¥14 trillion and ¥37 trillion, the equivalent of $135 billion to $358 billion, he said.

“When politicians are out there saying, ‘Let’s get rid of all cars using gasoline,’ do they understand this?” Mr. Toyoda said Thursday at a year-end news conference in his capacity as chairman of the Japan Automobile Manufacturers Association.

He said if Japan is too hasty in banning gasoline-powered cars, “the current business model of the car industry is going to collapse,” causing the loss of millions of jobs.

Advocates of EVs say they can be charged at night when electricity demand is low and, over time, can grow in tandem with other green technologies such as solar power. Read More…

Anand Gupta Editor - EQ Int'l Media Network