Mr. Akio Toyoda said that switching completely to electric cars could cause job losses for workers and suppliers in the field related to engine technology.
"There are 5.5 million people working in the auto industry in Japan. Among them, there are people who work in engine-related jobs for a long time. Therefore, if electric cars become the only option, these people's jobs will be lost. And even for our suppliers, this will cause many disadvantages" - Toyota representative shared.
The slowing growth rate of electric vehicle sales has affected major car manufacturers such as Ford, General Motors and Volvo... Therefore, these brands have had to re-evaluate their previous strategy of focusing heavily on electric vehicles.
Toyota, which has been cautious in its approach to electric cars compared to its rivals, has embraced hybrids as demand continues to grow. It has embraced a “multi-track” strategy toward zero carbon emissions that includes investing in electric cars, hybrids, hydrogen fuel cell vehicles and other powertrain technologies.
Toyota's board chairman also revealed that the company will only allow electric vehicles to account for a maximum of 30% of the global auto market, with the rest being hybrid vehicles, hydrogen fuel cell vehicles, and gasoline and diesel vehicles. However, the chairman did not reveal a clear timeframe for the above forecast.
