Sunday, September 11, 2022

Toyota Executive Warns EVs Face Obstacles to Wider Adoption

High prices, lack of charging stations are likely to deter many potential buyers, says a sales chief

By Nora Eckert of The WSJ. Excerpts:

"A top executive for Toyota TM 1.01% Motor Corp. in North America warned Thursday that buyers might not shift to fully electric vehicles as quickly as some rivals expect and that hybrids are likely to serve as a better near-term solution for many customers.

“As much as you want to talk about EVs, the marketplace isn’t mature enough,” said Jack Hollis, executive vice president of sales at Toyota Motor North America.

High sticker prices and a poor public charging infrastructure will likely keep customers—other than early adopters—from widely embracing battery-powered vehicles, Mr. Hollis said during a virtual event with journalists. Fast-rising raw-material costs, such as those for lithium, cobalt and other crucial battery inputs, are likely to further pressure car companies to increase prices for electric vehicles, he added."

"His skepticism contrasts with other automotive executives who have been bullish on consumer uptake of electric vehicles, with many citing long waiting lists for the electric models now available on the market."

"Mr. Hollis said he believes electric-vehicle adoption will take off eventually"

Related posts:

More Proof That Tradeoffs Are Everywhere: Blind People Don't Like The New, Quiet Hybrid Cars (2007)  

Will Economies Of Scale Bring Down The Cost Of Producing Electric Cars? (2010) 

Are Electric Cars Cost Effective? (2012)


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