The current situation of the new energy vehicle market and Toyota's challenges In the recently released data, Cui Dongshu, secretary general of the passenger association, pointed out that the global penetration rate of new energy vehicles in the third quarter was 163%, up from 13 for the whole of last year4% is even higher, showing a continuous growth trend.
However, Toyota has been weak in terms of electric vehicle sales, with a 240,000 units, far behind Tesla and BYD.
Toyota's former chairman, Akio Toyoda, has also been controversial about electric vehicles, emphasizing his opposition to full electrification of vehicles, believing that these electric technologies are low-level.
However, despite Toyota's efforts in three-electric technology and more than 20,000 new energy patents, its sales for the year were revised to 123,000 units, down 39% year-on-year1%。
This trend shows that Toyota is facing great challenges in the new energy vehicle market. Toyota's conservative attitude is evident in the NEV market, and although the company has partnered with China's BYD to develop the BZ3, the market response has not been satisfactory.
At the same time, Toyota's lag in smart technology also makes it uncompetitive in the smart car market.
In contrast, domestic car companies have gradually surpassed Toyota's competitiveness in the new energy vehicle market through technological innovations such as three-electric technology, intelligent cockpit and unmanned driving, as well as better driving experience and interior design.
BYD, as a leader in China's new energy vehicle field, has performed well. Its new energy vehicle sales continued to grow, and successfully exceeded the 6 million unit mark, and its products sold well in 58 countries, and were well received by users at home and abroad.
In contrast, although Toyota has made great achievements in traditional fuel vehicles, it is also facing many challenges while the rise of the new energy vehicle market. Overall, Toyota's conservative approach to the EV market puts it at a disadvantage in the market competition.
However, with the changes in the market and the development of technology, Toyota is expected to adjust its strategy and production line according to the needs of the market, so as to reshape its competitiveness in the new energy vehicle market. At the same time, it is also expected that domestic brands like BYD can achieve greater development in the world.