In 2023, Toyota Motor Japan set a record for more car sales than ever before, but electric vehicles have had little impact on their sales growth. Of the 11,233,039 vehicles delivered by the Japanese company, only 104,018 were electric. Last year, Toyota, Lexus and other subsidiaries sold only 0926% are electric vehicles. In view of this, Toyota believes that the internal combustion engine is still necessary.
In a speech to 200 managers and executives, Toyota Chairman Akio Toyota reiterated a major engine development plan. His statement is in line with one announced at the 2024 Tokyo Auto Salon, where he took the opportunity to tell everyone that we will continue the development of the internal combustion engine engine.
During the Q&A session, Akio Toyoda expressed his belief that no matter how advanced the technology is, the market share of battery electric vehicles will never exceed 30%. As a result, the remaining 70% will be represented by gasoline, hybrid, and fuel cell electric vehicles. Akio Toyoda also mentioned that hydrogen combustion engines may provide a solution; And there is no mention of diesel engines.
In response to a reporter's question, Akio Toyota is not solely concerned with decarbonization. He also touched on the delicate issue of employment: If we suddenly switch to pure electric vehicles, I'm sure the 5.5 million people in the Japanese auto industry who have dedicated their lives to engine work will start to question, "What is all this for?" Some of our engine-related merchants can't even get the bank to lend them money. 」
We have reached the moment of surprise announced by a new combustion engine. In 2024, automakers are mainly focused on announcing new electric vehicle plans. Some even announced that they would stop the production of internal combustion engine vehicles in the coming years. For example, the Jaguar, Chrysler, Lotus, Aston Martin, Bentley, Buick, Cadillac, Rolls-Royce, Genesis, Maserati, Mini, Opel Vauxhall and Volvo brands have pledged to become all-electric vehicles by the end of the decade. Even Toyota's Lexus brand has pledged to stop selling internal combustion engine vehicles by 2035.
In Europe, Stellantis has pledged to sell only electric vehicles by the end of the decade. Mercedes-Benz plans to be fully electric in Europe by 2030, but only if market conditions allow. The main competitor, Audi, will stop producing internal combustion engine vehicles in 2032. BMW has not set a deadline. Volkswagen's core brand aims to produce electric vehicles only in Europe from 2033.
Toyota has a different view, as they believe that battery electric vehicles cannot be the only solution to achieve carbon neutrality. Akio Toyoda mentioned that the charging infrastructure is far from ready, noting that one billion people around the world do not have access to electricity. Since Toyota sells cars in these regions, it doesn't make sense to go all-in on electric vehicles.