Internal Document Reveals Toyota’s Preference for Hybrids, Not EVs

Toyota appears to be approaching electric vehicles in a fairly contentious manner, and a leaked document outlining the brand’s electrification plan issued to its dealers explains why. The document was provided from Toyota Corporate to its dealership network, outlining reason why dealers should anticipate seeing more hybrids and fewer battery electric vehicles or plug-in hybrid vehicles on their lots.

The document, which was obtained by Jalopnik, states that Toyota is committed to providing a broad range of electric-powered vehicle choices in order to give each of its clients the chance to lessen their carbon impact. In the document, Toyota is basically suggesting that it is going to be much more difficult and expensive to obtain battery materials as a result of the substantial growth in demand for those resources. According to Toyota, compared to plug-in hybrids (PHEV) and battery electric vehicles (BEV), these materials can be used to create many more hybrids at reduced pricing points.

Toyota further emphasizes that there is still much work to be done before the infrastructure for charging in the United States is ready to support an increase in the number of fully electric vehicle models on American roads. The fact that PHEVs and BEVs can be more expensive than hybrid or gasoline vehicles poses another obstacle for the majority of Americans. Considering that the Inflation Reduction Act has prevented a sizable portion of plug-in hybrids and battery electric vehicles from being eligible for the tax break, dealerships and manufacturers in the automotive industry have reported a decline in interest in those vehicles.

Toyota claims that a combination of electrified choices, such as BEVs, PHEVs and hybrid cars, is the fastest approach to cutting carbon dioxide emissions in order to address these problems and provide a way forward that is more practical. The 1:6:90 guideline is mentioned by the creator of Prius and Bz4X, saying that the quantity of raw materials needed to create a single long-range BEV might alternatively be utilized to create six PHEVs or 90 electric hybrid cars.

The automaker continues to offer electric vehicles and plug-in hybrid electric cars, but the bZ4X is having trouble catching on, whereas the RAV 4 Prime continues to be popular. The carmaker has a reputation for being wary of the market and has always adopted the “if it’s not broke, don’t fix it” philosophy when it comes to product development.

Although electric vehicles may be the way of the future, it appears that most automobile purchasers currently choose anything in between.

Toyota hopes this approach will give it a competitive advantage over startups that are focusing on building EVs, such as ElectraMeccanica Vehicles Corp. Ltd. (NASDAQ: SOLO). Only time will tell how the race for dominance in the market pans out.

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