However, Toyota is also a full-line automaker, with a sizeable presence in many markets such as Southeast Asia, Africa and Latin America, and is not ready to adopt the stringent emission regulations being pushed in places such as Europe. Far from it.To meet the needs of different markets, Toyota envisions many avenues to reduce carbon dioxide.
Toyota said comparing Toyota to big EV boosters like General Motors and Volkswagen is apples and oranges.
“They don’t have hybrids, they don’t have a global market, they don’t have a complete line-up,” he said. “This is a different competition, not the same players.”
Toyota’s strategy encompasses everything from EVs and hybrids to hydrogen combustion and next-generation biofuels.
And now, retrofitting old cars with new technology becomes a different avenue.
“Many automakers are targeting a 100% shift to battery EVs between 2030 and 2040,” said Toyoda. “But the reality is that simply shifting all new car sales to EVs won’t get us carbon neutral by 2050. Providing options for the cars we already own is key.”
Toyota has been studying the issue since last year as part of its carbon neutral strategy.