Home » The Obvious Reason Tesla Scared Toyota into Entering the EV Market

The Obvious Reason Tesla Scared Toyota into Entering the EV Market

Toyota are looking to change their plans of how to introduce electric vehicles into their line-up, according to an inside source.

Toyota have been leading the way with hybrid vehicles for some time, with the Prius being the first mass-produced hybrid car available on the consumer market. And now, with the rise of fully electric vehicles, the company are looking to welcome EVs to the range. Toyota publicly announced last year their plan for a $38 billion roll out of electric vehicles over the next few years.

Toyota Press Image

However, some Toyota employees have spoken about a change to this $38 billion plan. According to these insiders, the Japanese car manufacturer is now planning to lower the amount of electric vehicles and instead will be aiming for high volume, low-cost production.

Toyota have been approached by the press but have not made any official statements at the moment, and the insiders have not given any further details than this.

With Toyota being the first to bring a mass-produced hybrid vehicle to market, it seems odd that they have been so slow off the mark to release a fully-electric model. According to Reuters, the company employees thought the mainstream demand for EVs was still a fair few years off, leaving them more than enough time to carry on with their ICE (internal combustion engine) vehicles.

Tesla have made huge gains in pushing the EV market forward across the world, clearly much sooner than Toyota thought the technology would be ready. So, for Toyota to make a mark on the sector, they are going to have to stick to what made them a popular choice in the first place. They will need to produce an efficient, affordable with good range all-electric car.