Toyota reveals it would rather buy emission credits than ‘waste’ money building electric vehicles

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The EV industry is currently witnessing a major disruptive wave in its grand all-electric vision with one restructuring after another. Rubbing salt to the wound, Toyota has revealed its strategic decision to prioritize the purchase of credits over investing in the manufacturing of electric vehicles.

 

Toyota, one of the world's largest automakers, has stated in an interview that it is better positioned to buy credits to close the EPA gap rather than ‘waste’ money on battery electric vehicles (BEVs). This statement was made by the CEO of Toyota N.A., who believes that EVs will only make up 30% of the US new-vehicle market in 2030, half of the target the EPA sought last year.

 

This trend has sparked a debate about the future of the automotive industry and the role of EVs in it. It underscores the complexities involved in transitioning to a more sustainable model of transportation. Toyota’s decision to buy credits rather than invest in EVs highlights the challenges automakers face in balancing economic considerations with environmental responsibilities.

 

The question that arises from this discussion is: How can automakers strike a balance between economic viability and environmental sustainability? What are your thoughts on Toyota’s decision to buy credits rather than invest in EVs? We’d love to hear your views on this trending topic.

 

 

Read more:

• https://www.autonews.com/executives/toyota-na-ceo-ted-ogawa-us-ev-demand-will-be-30-2030
• https://electrek.co/2024/03/01/toyota-says-it-would-rather-buy-credits-than-waste-money-on-evs/
• https://www.carscoops.com/2024/03/toyota-usa-thinks-ev-mandates-are-unrealistic-prefers-spending-on-credits-rather-than-ev-development/

 

 

Top image: Anatolii Verezhak | Dreamstime.com