Why even Toyota is falling behind in the EV race
Japan’s automotive giants are racing to develop solid-state batteries and forge foreign alliances to regain the edge in global sales as electric vehicle leaders BYD and Tesla take over.
Japanese car makers made an early bet on hybrid vehicles, such as Toyota’s RAV4 hybrid, but they have fallen behind in the electric vehicle race. Bloomberg
Japan’s car makers, once a disruptive force in global markets, have been wrong-footed in the race to tap growing global demand for electric vehicles.
With take-up for alternatives to the internal combustion engine slow in its domestic market, Toyota’s early bet on hybrid technology, while profitable, has left it trailing in pure EV development.
Subscribe to gift this article
Gift 5 articles to anyone you choose each month when you subscribe.
Subscribe nowAlready a subscriber?
Introducing your Newsfeed
Follow the topics, people and companies that matter to you.
Find out moreRead More
Latest In Asia
Fetching latest articles