It looks like Toyota is still not getting the message: people want electric vehicles, not hybrids. Despite all the evidence pointing to the inevitable growth of EVs in the auto industry, Toyota insists on sticking with hybrids, claiming, “That’s our strategy, and we’re sticking to it.” Well, Toyota, you may end up being left behind as nearly every other automaker, nation, and organization is moving toward sustainable, fully-electric vehicles.
Electric vehicle market growth across the globe
Toyota is one of the few automakers left in the industry that has yet to realize what the future has in store. Electrek has been calling for the transition to EVs to happen much quicker than most have predicted, and so far, the EV adoption pace continues intensifying.
Few industries are experiencing the rapid growth that electric vehicles are garnering. In 2021, sales of electric vehicles doubled to a record 6.6 million, according to data from the International Energy Agency, claiming almost 10% of the market!
In comparison, nine years ago, only 120,000 EVs were sold globally. More than that is sold each week now, and the pace is only expected to accelerate from here.
The latest data shows the electric vehicle market was valued at $287 billion in 2021 and is expected to reach $1.3 trillion by 2028, growing at a CAGR (compound annual growth rate) of 24.3%.
Governments in all major regions are implementing EV mandates and incentives to promote fewer carbon emissions and protect the environment. For example, the US has a goal of 50% electric vehicle market share by 2030, while Europe has proposed an all-out ban on fossil fuel cars by 2035, much like California – and now New York – is doing. Despite this, Toyota is backing its hybrid strategy going forward.
Toyota ranks last in decarbonization efforts
Even with all of this information, Toyota has been much slower to adapt and, for that reason, ranks last in its decarbonization efforts.
A recent study from Greenpeace found Toyota ranked last out of the top ten automakers after failing to generate even 1% of sales from zero-emission vehicles, not hybrids.
More importantly, the study found Toyota had the least developed supply chains to support a sustainable future. A climate campaigner from Greenpeace Japan even stated:
The time for hybrids, I think, has finished.
And they are right about that. Hybrids are only good as a bridge to fully-electric vehicles. In my opinion, they are inefficient and not optimized for either gas or electric. However, that being said, Toyota has been mass-producing hybrids since releasing the Prius in 1997.
Toyota sticking to its hybrid strategy despite calls for EVs
In an interview with reporters Thursday, Toyota’s CEO, Akio Toyoda, reiterated the automaker’s strategy to keep hybrids and fuel cell vehicles in its lineup, comparing the company to a department store.
The Japanese automaker’s leader also spoke on new zero-emission mandates and calls to end gas-powered vehicle sales, saying it would be “rather difficult” to achieve, stating:
Playing to win means playing with all the cards in the deck – not just a select few. So that’s our strategy and we’re sticking to it.
Fair enough, but what happens when nobody wants those other cards (cars)? Or, more importantly, if those cards are no longer an option due to regulation?
Toyota claims, “We don’t want to leave anyone behind,” yet they may end up being the ones left behind.
Electrek’s Take
It’s the same record on repeat out of Toyota. After growing to become the world’s largest automaker by offering hybrid technology, the company does not want to conform. They believe whole-heartedly in their hybrid strategy.
Meanwhile, technology has progressed significantly during this time, and companies like Tesla are proving the future is all-electric vehicles.
Tesla, exclusively selling EVs, claims the Model Y is on its way to generating the most revenue of any car this year, and will most likely be the top-selling vehicle overall next year.
Almost every other automaker you can think of, both new and legacy, is planning for an all-electric lineup. Will Toyota come around? As the industry (and the entire world) continues progressing toward a clean, sustainable future, Toyota may soon reconsider its hybrid strategy.
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National Grid Renewables has broken ground on its 100 MW Apple River Solar Project in Polk County, Wisconsin.
The Wisconsin solar farm, which will use US-made First Solar Series 6 Plus bifacial modules, will be constructed by The Boldt Company, creating 150 construction and service jobs. Apple River Solar will generate over $36 million in direct economic benefits over its first 20 years.
Once it comes online in late 2025, Apple River Solar will supply clean energy to Xcel Energy, which serves customers throughout the Upper Midwest. According to National Grid Renewables, the solar farm will generate enough energy to power around 26,000 homes annually. It will also offset about 129,900 metric tons of carbon dioxide emissions each year – equivalent to taking 30,900 cars off the road.
“We are excited to see this project begin as it underscores our dedication to delivering clean, reliable and affordable energy to our customers,” said Karl Hoesly, President, Xcel Energy-Wisconsin and Michigan. “This project is an important step in those goals while bringing significant economic benefits to Polk County and the local townships.”
Electrekreported in February that Xcel Energy, Minnesota’s largest utility, expects to cut more than 80% – and possibly up to 88% – of its emissions by 2030, putting it on track to hit Minnesota’s goal of net zero by 2040. It also says it’s on track to achieve its clean energy goals for all the Upper Midwest states it serves – Minnesota, Wisconsin, North Dakota, South Dakota, and Michigan.
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Tesla has announced that it will finally deliver 500 kW charging as it is about to install its long-awaited V4 Supercharger cabinets.
The rollout of Supercharger V4 has been a strange one, to say the least.
Tesla has been deploying the new charging stations for two years and calling them “Supercharger V4”, but it has only been deploying the charging stalls.
Supercharger stations are made of two main parts: the stalls, which are where the charging cable is located, and the cabinets, which are generally located further back and include all the power electronics.
For all these new “Supercharger V4”, Tesla was actually using Supercharger V3 cabinets. This has been limiting the power output of the charging stations to 250 kW – although
Today, Tesla officially announced its “V4 Cabinet”, which the automaker claims will enable of “delivering up to 500kW for cars and 1.2MW for Semi.”
Here are the main features of the V4 Cabinet as per Tesla:
Faster charging: Supports 400V-1000V vehicle architectures, including 30% faster charging for Cybertruck. S3XY vehicles enjoy 250kW charge rates they already experience on V3 Cabinet — charging up to 200 miles in 15 minutes.
Faster deployments: V4 Cabinet powers 8 posts, 2X the stalls per cabinet. Lower footprint and complexity = more sites coming online faster.
Next-generation hardware: Cutting-edge power electronics designed to be the most reliable on the planet, with 3X power density enabling higher throughput with lower costs.
Tesla reports that its first sites with the new V4 Cabinets are going into permitting now. The company expects its first sites to open next year.
We recently reported about Tesla’s new Oasis Supercharger project, which includes larger solar arrays and battery packs to operate the charging station mostly off-grid.
Early in the deployment of the Supercharger network, Tesla promised to add solar arrays and batteries to all Supercharger stations, and Musk even said that most stations would be able to operate off-grid.
While Tesla did add solar and batteries to a few stations, the vast majority of them don’t have their own power system or have only minimal solar canopies.
Back in 2016, I asked Musk about this, and he said that it would now happen as Tesla had the “pieces now in place” with Supercharger V3, Powerpack V2, and SolarCity:
It took about 8 years, but it sounds like the pieces are now getting actually in place with Supercharger V4, Megapacks, and this new Oasis project.
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Hyundai has a new secret weapon it’s about ready to unleash. To revamp the brand in China and counter BYD’s surge, Hyundai is launching a new AI-powered EV next year. The new model will be Hyundai’s first dedicated electric car for the world’s largest EV market.
With the help of Haomo, a Chinese autonomous startup, Hyundai will launch its first EV equipped with generative AI. It will also be its first model designed specifically for China.
A Hyundai Motor official said (via The Korea Herald) the company is “working to load the software” onto the new EV model, “which will be released in the Chinese market next year.” The spokesperson added, “The level of autonomous driving is somewhere between 2 and 2.5.”
In comparison, Tesla’s Autopilot is considered a level 2 advanced driver assistance system (ADAS) on the SAE scale (0 to 5), meaning it offers limited hands-free features.
With Autopilot, you still have to keep your eyes on the road and hands on the steering wheel, or the system will notify you and eventually disengage.
Haomo’s system, DriveGPT, unveiled last spring, takes inspiration from the OpenAI’s popular ChatGPT.
The system can continuously update in real-time to optimize decision-making by absorbing traffic data patterns. According to Haomo, DriveGPT is used in around 20 models as it looks to play a bigger role in China.
Hyundai hopes new AI-powered EV boosts sales in China
Electric vehicle sales continue surging in China. According to Rho Motion, China set another EV sales record last month with 1.2 million units sold, up 50% from October 2023.
Over 8.4 million EVs were sold in China in the first ten months of 2024, a notable 38% increase from last year.
BYD continues to dominate its home market. According to Autovista24, BYD accounted for 32.9% of all PHEV and EV (NEV) sales in China through September, with over half of the top 20 best-selling EV models.
Tesla was second with a 6.5% share of the market, but keep in mind these numbers only include plug-in models (PHEV).
Like most foreign automakers, Hyundai is struggling to keep up with the influx of low-cost electric models in China. Beijing Hyundai’s sales have been slipping since 2017. Through September, Korean automaker’s share of the Chinese market fell to just 1.2%.
According to local reports, Hyundai is partnering with other local tech companies like Thundersoft, a smart cockpit provider, and others in China to power up its next-gen EVs
With its first AI-powered EV launching next year, Hyundai hopes to turn things around in the region quickly. The new model will be one of five to launch in China through 2026.
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