Very interesting to hear what #Toyota NA CEO Ted Ogawa has to say about #BEV investment in the US.
Essentially, Toyota is ignoring EPA guidelines about BEV mix and focusing entirely on customer demand, and they will not make BEVs in numbers higher than expected demand lest they waste their resources.
Toyota’s now-well-known reticence in jumping into the BEV bandwagon, preferring to sell #PHEVs instead, may prove to be the better bet. The EPA is likely to reduce their mandate for 50% BEV new car sales by 2030. If they do, then Toyota’s strategy would have been proven right.
Reminder that the difference between BEVs and PHEVs in terms of emissions is much smaller than the BEV promoters have claimed. In fact, it is arguable that small PHEVs are the greenest cars you can buy today. In reality, BEVs are only one type of green car, not the only kind. And the obsession with only BEVs is just a fad. Even a cult at times.
Financial websites are increasingly noticing that the BEV push is failing. And that Toyota was right all along with hybrids and other options. This will soon become consensus among everyone. Eventually, everyone will realize that BEVs are a fad and don’t make sense as ground transportation vehicles for most people.
Japanese automakers were simply paying attention to the facts, not buying into a fad. As a result, they are making massive profits while the rest of the industry losses billions on their BEV programs.