Toyota CEO: lack of infrastructure prevents the company from fully investing in the field of electric vehicles

CTOnews.com, September 30, with the continuous development of electric vehicles, many traditional car companies have begun to actively transform to electrification and launched their own electric models. However, there are some car companies that are cautious about the electric vehicle industry, including Japan's Toyota Motor Group.

Toyota chief executive Akio Toyoda said in a media interview yesterday that while Toyota will launch more electric cars in the coming years, the company will also offer a range of other options, including gas-electric hybrids, hydrogen and conventional fossil fuel-powered vehicles, CNBC reported today. Akio Toyoda said the lack of adequate infrastructure would affect the acceptance of electric vehicles, which was a major factor in the company's decision not to fully invest in the field of electric vehicles.

It is reported that many environmental protection groups have criticized Toyota's strategy, saying that Toyota is not fully committed to developing environmentally friendly vehicles such as pure electric vehicles. Currently, Toyota plans to invest $70 billion (about 498.4 billion yuan) in electric vehicles over the next nine years, of which $35 billion (about 249.2 billion yuan) will be spent on pure electric vehicles. At the same time, Toyota plans to offer about 70 electric vehicles worldwide by 2025 and sell about 3.5 million pure electric vehicles by 2030, accounting for about 1/3 of annual sales.

As previously reported by CTOnews.com, Jack Hollis, Toyota's executive vice president of North American sales, has said that consumers may not switch from traditional fuel vehicles to all-electric vehicles as quickly as some automakers expect, and for many consumers, hybrid models may be a better solution in the near future.