Toyota Chairman Skeptical of Widespread EV Adoption in Near Future

Sept. 5, 2017
The remarks by Takeshi Uchiyamada, told to CNBC in an exclusive interview, mark a departure from the sentiment of several players in an industry that's trying to shift quickly to more "green" technology. Volvo, for instance, says that all new models launched from 2019 will be fully electric or hybrids.

Sept. 5, 2017—In a video interview with CNBC, the chairman of Toyota is skeptical that consumers will embrace such cars immediately, given current limitations in battery technology.

The remarks by Takeshi Uchiyamada, told to CNBC in an exclusive interview, mark a departure from the sentiment of several players in an industry that's trying to shift quickly to more "green" technology. Volvo, for instance, says that all new models launched from 2019 will be fully electric or hybrids.

"I must say up front that we're not against electric vehicles. But in order for electric vehicles to cover long distances, they currently need to be loaded with a lot of batteries that take a considerable amount of time to charge. There's also the issue of battery life," he said.

"But as laws and regulations (that encourage the development of electric vehicles) come into effect in places like China and the U.S., car makers will have no choice but to roll out electric vehicles or risk going out of business," he continued. "Toyota is no exception, but we're skeptical there would be a rapid shift to pure electric vehicles, given questions over user convenience."

Uchiyamada said another two or three more technological breakthroughs are needed before vehicles can be fully powered by batteries. Nevertheless, he admitted that some form of electrification is inevitable and that Toyota is already working on developing better batteries to power its cars.

Sponsored Recommendations

Valvoline Partner Solutions

We arm you with products that build trust, tools that unlock productivity, and training that drives business performance, so you feel confident in where your...

Grow the business you know

Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube.

Solutions that drive results

Connect with Valvoline experts to increase operational efficiency and customer loyalty – from Valvoline-funded promotions to hands-on training, we’re here to...

Free Resources for Shops Like Yours

View insights, research and solutions curated specifically for shops like yours.