Toyota has been forced to speed up its embrace of electric vehicles
Toyota Motor i-Road electric personal mobility vehicle. Toyota tapped China's biggest makers of electric-car batteries as global automakers race to bring out vehicles that meet stricter emission rules.
Fitch Solutions Macro Research said this showed Toyota had been mistaken in its previous plans for electrification. Toyota had opposed battery only vehicles because of their limited range and long charging times compared with hybrids and fuel cell vehicles. As we have said before, companies without committed and sizeable electrification strategies will likely struggle to hit the EU CO2 targets, especially in 2025 and 2030,” Evercore ISI analyst Arndt Ellinghorst said.
“Adding BEVs to its line-up will benefit Toyota as it will enrich its electrified models’ portfolio and strengthen its position as a major EV player by addressing every vehicle segment. However, we believe that the limited number of models will not result in Toyota taking a significant market share in the EV space.
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