Business

Toyota, a pioneer of hybrids, resists the push toward electric cars.

Toyota, a pioneer of hybrids, resists the push toward electric cars.
Written by admin
Toyota, a pioneer of hybrids, resists the push toward electric cars.

Toyota, a pioneer of hybrids, resists the push toward electric cars.

Even as other automakers have embraced electric cars, Toyota has bet its future on the development of hydrogen fuel cells – a more expensive technology that has lagged far behind electric batteries – with greater use of hydrogen fuel cells. short-term hybrids. This means that a rapid switch from gasoline to electric on the roads could be devastating to the company’s market share and bottom line.

Over the past few months, Toyota has quietly become the auto industry’s strongest voice to oppose a full shift to electric vehicles – which its supporters say is key to tackling climate change, reports Hiroko Tabuchi in The New York Times.

Last month, Chris Reynolds, a senior executive who oversees the company’s government affairs, traveled to Washington for private meetings with Congressional staff and highlighted Toyota’s opposition to an aggressive transition to fully electric cars. He argued that gas-electric hybrids like the Prius and hydrogen-powered cars should play a bigger role, according to four people familiar with the talks.

The recent push in Washington follows Toyota’s global efforts – in markets such as the United States, Britain, the European Union and Australia – to oppose stricter emissions standards or fight against the mandates of electric vehicles.

#Toyota #pioneer #hybrids #resists #push #electric #cars

READ Also  Zomato IPO Is Opening Today The Company Wants To Raise 9,375 Crores

About the author

admin