TOYOTA'S CEO JUST CALLED OUT THE EV INDUSTRY: HERE'S WHY EV IS A "WASTE" OF INVESTMENT DOLLARS

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Toyota's North American CEO, Ted Ogawa, has publicly stated that significant investment in EVs is a 'waste of money' for the company at present. He believes the US market will only reach 30% EV penetration by 2030, far below government mandates. Instead of rushing EV production, Toyota plans to follow natural customer demand and purchase EV credits to meet regulatory requirements. The company is focusing its future EV development on a next-generation platform expected around 2026, rather than investing further in current models like the bZ4X. Ogawa also highlighted the competitive threat from Chinese automakers, particularly BYD, though he believes Toyota's overall product quality and established presence will allow it to compete. The video also touches on Toyota's upcoming hybrid and plug-in hybrid models, with a new battery plant in North Carolina set to boost production.