Toyota Motor Chief Executive Akio Toyoda said that pursuing all-electric vehicles exclusively would be too narrow an approach for an auto maker that s

Toyota CEO Says Moving to All EVs Would Leave Some Customers Behind

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2022-10-01 01:30:56

Toyota Motor Chief Executive Akio Toyoda said that pursuing all-electric vehicles exclusively would be too narrow an approach for an auto maker that sells to customers in disparate markets around the world.

In a meeting with U.S. journalists Thursday, Mr. Toyoda defended Toyota strategy to invest in EVs for the long term while simultaneously promoting hybrids and plug-in hybrids, which combine batteries with gas engines to save fuel. He likened Toyota to a department store with the ability to cater to all types of customers through a diverse vehicle lineup.

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