To Counter Chinese Competition, Toyota Doubles Down on EVs
After over a decade of actively avoiding the growing battery electric vehicle sector, Japan is finally making forays into BEV production to deal with the threat posed by China’s behemoth EV industry. Toyota was one of the very first automakers to produce an alternative energy vehicle, the Prius, but the Japanese automaker stuck with the infamous hybrid over fully electric cars while other automakers were investing billions of dollars into BEV production. Now the largest carmaker on the globe has decided to focus on electrified cars to remain competitive with Chinese automakers like BYD and maintain its position as a…