"We’re transitioning to a brand new technology. It’s expensive. It requires people to have a different relationship with their vehicle that has been largely unchanged for decades," one expert said.
Toyota’s chairman and former CEO, Akio Toyoda, has long been a skeptic of the electric vehicle hype train—it was a big reason he stepped down from the top job at the Japanese carmaker earlier this year. Now, he can finally say, “I told you so.” With Elon Musk’s Tesla reporting disastrous third-quarter earnings last week, investors are realizing that EVs are no silver bullet for profit. “People are finally seeing reality,” Toyoda said on Wednesday.
Toyota’s chairman and former CEO, Akio Toyoda, has long been a skeptic of the electric vehicle hype train—it was a big reason he stepped down from the top job at the Japanese carmaker earlier this year. Now, he can finally say, “I told you so.” With Elon Musk’s Tesla reporting disastrous third-quarter earnings last week, investors are realizing that EVs are no silver bullet for profit. “People are finally seeing reality,” Toyoda said on Wednesday.