Toyota President Akio Toyoda’s statement about electric vehicles increases concerns about the ‘net zero’ target, and future vehicle technologies are discussed.
Toyota President Akio Toyoda stated that electric vehicles will account for only 30 percent of the global market share. This statement is,net zero” increased the concern of consumers who want to achieve their goal.
What is the Net Zero Target?
A net zero goal usually refers to a commitment by institutions, countries or industries to reduce or offset greenhouse gas emissions within a certain time frame. The main purpose of this target is to bring the amount of greenhouse gases released into the atmosphere to a reversible balance with nature.
Statement by Akio Toyoda
Akio Toyoda announced that hybrid and hydrogen fuel cell vehicles are likely to make up the rest of the market, alongside conventional fuel-powered cars.
In addition, Akio Toyoda stated that making the transition to electric vehicles is a difficult and arduous process, citing the fact that one billion people in the world live without electricity.
“Customers should make this decision, not regulations or policies,” Akio Toyoda said during an event this month. “The engines will definitely continue.” He concluded by saying:
Toyota hopes to embrace the world’s hybrid petrol-electric technology as an “eco standard”, having lagged behind rivals in battery technology for many years.
However, despite Akio Toyoda’s statement, the electric vehicle market share is expected to increase up to 23.5% by 2025.