“This new Hydrogen Engine will destroy EV market!” – Akio Toyoda (Update)
Toyota has developed a new internal combustion engine that runs on hydrogen, and the company CEO Akio Toyoda says it will destroy the entire EV industry.
Akio Toyoda, Toyota Motor’s chairman, has never been a huge fan of battery electric vehicles. Last October, as global sales of EVs starting to slow down amid macroeconomic uncertainty, Toyoda crowed that people are “finally seeing reality” on EVs. Now, the auto executive is doubling-down on his bearish predictions, boldly predicting that just three in ten cars on the road will be powered by a battery.
Toyoda, who is also the grandson of founder Kiichiro Toyoda, made his forecast during a business event earlier this month. His remarks were uploaded to the company’s media platform on Tuesday.
“The enemy is CO2,” Toyoda said, proposing a “multi-pathway approach” that doesn’t rely on any one type of vehicle. “Customers, not regulations or politics” should make the decision on what path to rely on, he said.
The auto executive estimated that around a billion people still live in areas without electricity, which limits the appeal of a battery electric vehicle. Toyoda estimated that fully-electric cars will only capture 30% of the market, with the remainder taken up with hybrids or vehicles that use hydrogen technology.
- April 9, 2023
–by Mark Cipolloni–
We have all read about the horror stories of owning an all-electric vehicle
- Long recharging times
- Fights at recharging stations over the long waits
- Charging stations that do not work properly
- Charging stations being powered by diesel or gas generators
- Spontaneous combustion (fires),
- Houses burnt down from car catching fire while charging in the garage
- Child labor being used to mine the materials needed to make the Lithium-ion batteries
- Not enough materials on earth for every car to be electric
- Poor range
- 33% or more degradation of range in cold weather
- We could go on
Toyota has been adamant they do not feel EVs are the solution, and they may be right.
The company has now developed a new internal combustion engine that runs on hydrogen, and the company CEO says it will destroy the entire EV industry.