Tech
Is Toyota Late To EVs?
Update: On January 26 2023, Toyota announced that CEO and President Akio Toyoda would step down in April and assume the role of chairman of the board.
Environmentalists and electric vehicle advocates are accusing the world’s largest automaker, Toyota, for dragging its feet, and even opposing electrification. But Toyota, which sells 10.5 million cars a year in 170 countries, argues that many of those markets aren’t ready for electric vehicles.
The company announced a $35 billion investment in EVs in December 2021 along with an investment of equal size in hybrids and hydrogen fuel cell vehicles. As of early 2023, the company sells only one electric vehicle, the bZ4X, which it has only sold in small quantities. It has, however, said it is planning to release 30 EV models by 2030, which would be a quarter of the total number of models it currently makes.
Will it be able to catch-up with the rest of the world, or is Toyota actually in the driver’s seat by going slow in EV adoption given how small the global market share is in total vehicle sales?
Chapters:
1:43 — Chapter 1
6:43 — Chapter 2
10:25 — Chapter 3
Produced by: Robert Ferris
Edited by: Dymond Green
Senior Managing Producer: Tala Hadavi
Graphics by: Jason Reginato
Additional sources: Toyota, International Energy Agency, California New Car Dealers Association
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Is Toyota late to EVs?
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Produced and Edited by: Ryan Baker
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Additional Footage: Hyundai
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@blongth89
December 19, 2023 at 4:49 am
Toyota is number one Auro brand for a reason. Let them do their thing. Stop it with the EV scam.
@kabuto310
December 19, 2023 at 4:49 am
Did anyone else read the thumbnail? What the heck is restisting? I think CNBC needs to check that again. 😅
@youngyingyang
December 19, 2023 at 4:49 am
Because Toyota prefers huge, short term profits vs having clean air and a better planet.
@KevinNguyen-zn4vv
December 19, 2023 at 4:49 am
Toyota doesn't just sell their vehicles to the USA. Try to sell an EV in South America, Africa, or India.
@MoniqueMarine-kt6pn
December 19, 2023 at 4:49 am
Might Toyota have a partnership in fuels
@elleholland69
December 19, 2023 at 4:49 am
Toyota is very smart. The raw materials used to make 1 EV could make 6 plug-in hybrids or 90 non-plug-in hybrids. This is a carbon reduction 37 times greater than a single battery EV!!!
@bigbusiness7035
December 19, 2023 at 4:49 am
As EV demand has slumped even in the US, Toyotas bet is looking right.
@auwkeung
December 19, 2023 at 4:49 am
EV is NOT carbon neutral, it just pushes the carbon footprint from gasoline to the power grid
@zerokool-2058
December 19, 2023 at 4:49 am
Here we are now, and GM has said they’re reducing EV production 😂.
Toyota is smart! They will continue the hybrid productions.
PLEASE Toyota make a plug in hybrid Camry!!
@andrewjackson5127
December 19, 2023 at 4:49 am
I think Toyota is correct. This past summer in California where you point out that there was a lot of sales they told you that you couldn't charge your electric vehicle because the grid couldn't handle it. That's certainly not a workable solution. And imagine the shock of all these environmentalists when they find out this does not do anything to reduce CO2 because passenger car transportation only contributes about four or five percent of the CO2 that is output by humans. Imagine they're shocked to find out that CO2 in fact has increased because manufacturing is the main contributor and we're making all these damn new cars instead of driving used cars. It takes 5 to 7 years at least to offset the carbon in manufacturing an electric vehicle. This really is one ginormous scam
@user-lr5qx6iu2x
December 19, 2023 at 4:49 am
When you invest you're buying a day you don't have to work. Restisting? isn't it resisting?.
@Mikeyang1975
December 19, 2023 at 4:49 am
Too much BS when you burn coal to make electricity and no plan to recycle batteries. Why doesn't the world use ethanol that is CO2 free? Because Brazil retains the technology of production and space to plant sugar cane, aource for ethanol.
@mrvggl
December 19, 2023 at 4:49 am
I strongly believe that Toyota is researching on EV. Once they are confident on the quality they'll launch stunning cars in affordable price range and the competition will be trying to catch up with Toyota.
@10YearOldTom
December 19, 2023 at 4:49 am
I Can't believe the dude at about 6:30 through. Acting like charging stations aren't LOADED in busy areas. EV are not practical in large scale yet. Toyota is 100% right. That's what happens when you work from home and talk all day through Email.
@patheally
December 19, 2023 at 4:49 am
Notice all the carbon-nuetral/EV proponents are either beta males or women.
@raymonddon8875
December 19, 2023 at 4:49 am
japan is way too late. chinese BYD, in 2023 sold more cars worldwide than both VW and toyota. bravo china from germany!
@Californiavideos117
December 19, 2023 at 4:49 am
Toyota is very smart. They know how to do business
@paolocruz8392
December 19, 2023 at 4:49 am
Sometimes people forget that the Japanese are living ten years ahead of all of us. They think of everything.
@paolocruz8392
December 19, 2023 at 4:49 am
O ye of little faith. Toyota is a master of Just in Time business principle. If they say it's not yet time then it's not. They're too big not to have prepared to any situation. They're right not to solely invest in EV. Don't put all your eggs in one basket. JDM has kei cars which if you ask me should have been the direction of carbon emission reduction especially for consumer level. If and when the situation is ready they can easily adapt. They have all the technologies in their arsenal. In addition political turmoil is happening because of China. Now is not the time to focus on EVs. When Taiwan falls, the world will soon too.
@AmericanDrinker
December 19, 2023 at 4:49 am
Late? Ha! We're just getting started
@user-br5qu9uj9b
December 19, 2023 at 4:49 am
It takes about 5 to 10 years to replace a car for average families. Once people get used to driving EV's it's difficult to go back to driving ICEV.
@kenrandall5680
December 19, 2023 at 4:49 am
The title for this video has an obvious spelling error! Editing was overlooked … ‘Resisting’
@melindamaxwell7923
December 19, 2023 at 4:49 am
Typo in the title
@mychan_dsi
December 19, 2023 at 4:49 am
RESTISTING?
@graemelliott3942
December 19, 2023 at 4:49 am
Toyota is not late to the party! They are a very conservative vertically integrated company. They’re a lot brighter that you’re letting on!
@thewavehunter
December 19, 2023 at 4:49 am
U folks at CNBC do a great job on these auto-related “series” stories – topical and informative. Please produce more.
@rickbarnard-uj8hs
December 19, 2023 at 4:49 am
Toyota is smart, no one wants a electric car that is unreliable in hot or freezing weather
@boi5599
December 19, 2023 at 4:49 am
Because toyota knows that ev's arent the future, reliable cars that'll last you. They let everyone comeout with their crappy ev's first hahaha
@Rob-yv9og
December 19, 2023 at 4:49 am
An EV charger uses more electricity than 30 refrigerators. In the dominican republic, you're lucky if you have electricity for 1 refrigerator. DR is relatively rich for the global south. Toyota makes vehicles that work in the whole world…not just California and Texas like a Tesla.
@neygercey7899
December 19, 2023 at 4:49 am
The necessary infrastructure for EV to operate decently on a day-to-day basis is underestimated and depending very much on government huge investment almost everywhere. And comparing the number of gas stations and + time to fill up vs needed infrastructure + time to charge one EV there is still a long way to go. I believe that hybrids, not the plug-in versions, are more a realistic solution before EVs take over.
@user-ke9qv1bs7z
December 19, 2023 at 4:49 am
CNBC and the west believe EV is the only option and apply the same for the rest of the world. That's a totally one sided view thinking that everyone can afford to do so.
Toyota sold way more hybrids that help to reduce co2 than anyone else.
Any I'm still not believe EV is really reducing co2 footprint given the supply chain is equally polluted or possibly more.
@jarthur5094
December 19, 2023 at 4:49 am
I think hybrids are best
@Cars360-vs7bk
December 19, 2023 at 4:49 am
This video Gould should be made today or few months back!! EV sales all time low. Hybrid is in high demand
This is the situation where EV prices are down and rebates are active
@smellybox309
December 19, 2023 at 4:49 am
Toyota does not want any EV fires.
@michapiotrstankiewicz2713
December 19, 2023 at 4:49 am
I never liked the idea of plug-in hybrid car. The battery is small. The tank is small. The trunk is small. And everything in a big car
@bigpirate7513
December 19, 2023 at 4:49 am
Hidrogen engine hee heehee😂😂😂😂😂😂
@Anomize23
December 19, 2023 at 4:49 am
Resisting and slowly transitioning are 2 different words.
@folag
December 19, 2023 at 4:49 am
Watch out! Toyota is closer to being able to manufacture SOLID STATE batteries, which is not subject to the risk of burning or explosion like batteries currently in use. However, the reason solid state batteries are the game changer is that they will deliver significantly greater mileage plus lower vehicle weight.
@warlord6664
December 19, 2023 at 4:49 am
This aged well, EV sales down
@mwmack8973
December 19, 2023 at 4:49 am
"Restisting???" Did I read that preview correctly?
@supa3ek
December 19, 2023 at 4:49 am
toyota executives have said the hype around evs does not match reality ??????
LOL open your eyes to reality. I see evs on the roads more and more !!!!
@speculawyer
December 19, 2023 at 4:49 am
At 7 minutes in, a guy days EVs be only 6 to 7%. Right now, plug-in vehicles are approaching 20% worldwide.
@speculawyer
December 19, 2023 at 4:49 am
Yes. VERY late.
@mz4420
December 19, 2023 at 4:49 am
@cnbc – Your thumb nail has a spelling mistake 😂. WTF is RESTISTING?
@989buzz
December 19, 2023 at 4:49 am
Let Toyota run it’s company the way they see fit. I believe ev’a does not solve the climate crisis completely. America s power grid
can’t support ev’s when it goes mainstream. In New York our air conditioners bring our power grid to its knees. The rest of the world is far behind on an electric infrastructure to support ev’s. In my opinion hybrid technology is the way to go. Can you drive an electric car from New York to California , you can’t the infrastructure is not there.
@gdragon36
December 19, 2023 at 4:49 am
Title spelling wrong “resisting” not “restisting”😂
@nukestrom5719
December 19, 2023 at 4:49 am
Both Toyota and Honda are too late to the game, just like Ericson in the phone world. BYD seized the opportunity.
@johnsonjjohnson100
December 19, 2023 at 4:49 am
Wow, talk about poor judgement
These execs with their heads in the sand will be the downfall of a great company
Kind of like saying the digital camera will never replace a film camera