Toyota executives have repeatedly stated that the company’s future lay in having all kinds of powertrains on offer – not just purely electric. This week, Jalopnik was able to learn more about the reasons why the global automotive corporation is in no hurry to wave the EV flag.
Apparently, the manufacturer sent letters to its authorized dealerships in the USA this week explaining that all-electric cars are still too expensive to produce, less profitable to sell than hybrids and not nearly as nature-friendly as one might think.
First off, the world has limited deposits of lithium, cobalt and nickel. Per the company, the amount of rare metals required to make just one battery-electric car is enough to produce 6 plug-in hybrids or 90 mild hybrids.
Selling 90 vehicles is more profitable than selling just one. Furthermore, by the time its intended service life comes to an end, the average hybrid will have been 37 times as nature-friendly as an EV, which is loaded with toxic battery components requiring complex and costly recycling.
Second, Toyota believes that the charging infrastructure in the United States is still underdeveloped for a mass advent of electric cars: by the start of the next decade, another 1.2 million public charging stations will need to be installed in order for the country to go full-on electric.
Third and last, the prices of EVs remain rather high, especially after the recent slashing of incentives, making it hard for buyers to justify the costs.