Toyota Motor’s Chairman, Akio Toyoda, raised concerns on Thursday about the potential job losses that could result from an electric vehicle (EV)-only future, especially among workers involved in engine-related technologies.
“There are 5.5 million people involved in the automotive industry in Japan. Among them are those who have been doing engine-related (work) for a long time,” Toyoda said in a statement to reporters. He warned that if EVs become the only option, many of these jobs could disappear, while also expressing his personal preference for gasoline vehicles.
Toyota, the world’s largest automaker by sales, has taken a more cautious approach toward EV adoption than many of its competitors. This strategy has positioned the company well, especially as global EV sales have shown signs of slowing.
Toyota continues to see strong demand for its expanding hybrid lineup, particularly in its largest market, the United States. The automaker advocates for a “multi-pathway” approach to reducing carbon emissions, which includes EVs, hybrids, hydrogen fuel-cell vehicles, and other technologies.
In January, Toyoda estimated that EVs would account for, at most, 30% of the global auto market, with the remaining share comprised of hybrids, hydrogen fuel-cell, and fuel-burning vehicles. However, he did not specify a timeline for this projection.
Toyoda shared these insights at the unveiling of a bust of his father, Shoichiro Toyoda, at Nagoya University. Shoichiro, who passed away last year at the age of 97, led Toyota during the 1980s and played a pivotal role in launching the Lexus brand and the iconic Prius hybrid.
Source: Reuters
