Toyota Motor (NYSE:TM) said it is sticking with its electric vehicle (EV) strategy despite criticism it is transitioning toward EVs too slowly.
Akio Toyoda, the group’s chief executive, doubled down on his corporate strategy that EVs are not the only way to reach carbon neutrality, despite receiving resistance from investors and environmentalist organisations.
Yesterday, the Japanese vehicle manufacturer said it is moving forward with plans to offer an array of electrified vehicles, including hybrids and plug-ins to hydrogen-powered vehicles.
Addressing dealers at Toyota’s annual conference in Las Vegas, Toyoda was tasked with convincing sceptics on its strategy.
That included government officials which are focused on regulations on all battery vehicles, adding the manufacturer would need to “present the hard facts” about consumer adoption and the environmental impact, according to CNBC.