But Toyota is also a full-lineup automaker, with a sizable presence in many markets, such as Southeast Asia, Africa and Latin America, that are nowhere close to adopting the strict emissions rules being pushed in places such as Europe. To address the needs in different markets, Toyota envisions many roads to reducing carbon dioxide.
It’s apples and oranges to compare Toyota with big EV boosters such as General Motors and Volkswagen, Toyoda said.
“They don’t have hybrids, they don’t have a global market, they’re not full lineup,” he said. “It’s a different competition, and it’s not the same players.”
Toyota’s strategy covers everything from EVs and hybrids to hydrogen combustion and next-generation bio fuels.
And now, retrofitting older cars with new technologies will become another path.
“Many automakers target a 100 percent shift to battery EVs, anywhere between 2030 to 2040,” Toyoda said. “But the reality is that we cannot achieve carbon neutrality by 2050 simply by shifting all new-car sales to EVs. … It is important to provide options for cars that are already owned.”
Toyota has been studying the matter since last year as part of its carbon-neutrality strategy.
