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Toyota's Ted Ogawa: Better to buy credits than ‘waste' EV investment

Summary by Ground News

Toyota CEO Ted Ogawa says he believes EVs will only make up 30% of the US new-vehicle market in 2030. Currently, the company is building a $13.9 million battery complex in North Carolina to be used in its EVs and hybrids sold in North America. Since 2021, Toyota has invested about $17 billion into its US manufacturing operations.

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Electrek

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Toyota says it would rather buy credits than ‘waste’ money on EVs

As the car industry’s largest hybrid pusher, Toyota says it is better positioned to just buy credits to close the EPA gap rather than “waste” money on BEVs, its CEO said.

1 year ago

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Automotive News

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Toyota's Ted Ogawa: Better to buy credits than ‘waste' EV investment

In an exclusive interview, Toyota Motor North America CEO Ted Ogawa says U.S. EV demand in 2030 is expected to only be 30 percent of the market, not more than half as the EPA has proposed.

1 year ago·United States

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