Connect with us

Published

on

Longtime Toyota CEO and chairman Akio Toyoda believes EVs will only reach 30% market share at most. The comments come despite several auto markets, like Norway and Sweden, already well past that.

Toyoda, the grandson of the automaker’s founder, has been one of the most vocal opponents as the industry shifts to electric.

Under Toyoda’s control, the Japanese automaker has consistently lobbied against electric vehicles, asking for easier government regulations to slow the rollout. As a result, Toyota ranks among the world’s top obstructive companies with Chevron and ExxonMobil.

Although the longtime leader stepped down as CEO in April, he remains on the board, and his influence is evident.

New Toyota CEO Koji Sato seemed to recognize the automaker’s failure to keep pace in the rapidly evolving auto market, but anti-EV efforts have continued.

Toyota has stuck to its hybrid strategy because that’s what has worked for them in the past. The brand, known for the Prius, continues pushing hybrids, fuel cell, and other gas-powered cars despite most governments moving toward all-electric.

Other top Toyota executives have reiterated the stance, claiming hybrids are a better fit for most customers.

Toyota-EVs-30%
2024 Toyota bZ4X XLE FWD (Source: Toyota)

Toyota chairman believes EVs will only reach 30% share

During a lecture on the company’s production system, Toyoda explained he believes that EVs will only represent 30% market share, “no matter how much progress BEVs make.”

The remaining 70% will be HEVs, FCEVs, and hydrogen engines. Toyoda added, “And I think engine cars will definitely remain.”

Toyota-EVs
Akio Toyoda presents new EV concepts in 2021 (Source: Toyota)

Despite Toyoda’s comments, several markets are already well above the 30% mark. Norway, for example, already reached 82.4% EV market share in 2023.

Other markets, including Sweden (32%), the Netherlands (24%), and China (24%), are all above or about to surpass the mark.

BYD-EVs
BYD Dolphin (left) and Atto 3 (right) Source: BYD

China is a prime example of how quickly EV share can rise. EVs represented under 6% of total auto sales in China in 2020. This past year, that number reached over 24%.

Over 1.2 million EVs were handed over in the US last year, or 7.6% of all auto sales last year. This year, that number is expected to cross the 10% mark, according to Cox Automotive data.

Electrek’s Take

Toyota continues pushing its hybrid tech because that propelled it to be the world’s largest automaker. However, times are changing again.

Although Toyota was ahead of the pack with hybrids, its hesitation with EVs could set it up for failure. The automaker has one of the least developed supply chains for EVs.

Of the nearly 9.4 million vehicles sold globally last year (including Lexus), only 95K or 1% were all-electric. Rival Volkswagen sold over 394,000 EVs, or around 9%. Other automakers like Hyundai, BMW, Mercedes, and Volvo are already hitting double-digit or 100% EV sales.

Meanwhile, Tesla delivered a record 1.81 million EVs last year as adoption continues climbing globally.

BloombergNEF predicts EVs will represent 75% of new car sales and 44% of passenger vehicles on the road by 2040.

By sticking to what has worked in the past while ignoring the global trend, Toyota is setting itself up to fall further behind.

Source: Bloomberg, Toyota

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Peak Energy’s $500M deal will deploy the world’s largest sodium-ion battery system

Published

on

By

Peak Energy’s 0M deal will deploy the world’s largest sodium-ion battery system

Burlingame, California-based Peak Energy just scored a huge win for sodium-ion batteries. The company announced a multi-year deal with utility-scale battery storage developer Jupiter Power to supply up to 4.75 GWh of sodium-ion battery systems between 2027 and 2030.

Under the agreement, Peak will deliver 720 MWh of storage in 2027 – the largest single sodium-ion battery deployment announced so far. The deal also includes an option for an additional 4 GWh of capacity through 2030, bringing the total contract value to more than $500 million.

Sodium-ion vs. lithium-ion

Peak Energy says its sodium-ion batteries degrade less over time and have lower operations and maintenance costs than lithium-ion systems. Because the batteries don’t degrade as quickly, operators don’t need to add more capacity later in a project’s life to maintain performance. They also use a fully passive cooling system that eliminates pumps, fans, and other components used in lithium-ion setups, reducing maintenance and safety risks.

The company claims its grid-scale sodium-ion system uses up to 97% less auxiliary power, offers about 30% better cell degradation performance over 20 years, and comes with a lower total cost of ownership.

Advertisement – scroll for more content

Why this deal matters

The agreement marks a significant step forward for the emerging sodium-ion sector, which has been gaining momentum as a safer and lower-cost alternative to lithium-ion for long-duration and grid-scale energy storage. It also underscores the growing effort to build a domestic sodium-ion battery supply chain in the US.

“From day one, we’ve believed sodium-ion will be the winning technology for grid-scale storage, which is essential to meet rising demand from hyperscalers and AI,” said Landon Mossburg, Peak Energy’s CEO and cofounder. “Deploying the world’s largest sodium-ion energy storage system with one of the nation’s top independent power producers proves that sodium is ready for today and will dominate the future.”

Mike Geier, CTO at Jupiter Power, said the company is “excited to support domestic battery energy storage manufacturing as we continue to increase the deployment of firm, dispatchable energy when and where it’s most needed,” and called Peak’s approach to sodium-ion “a potential game changer for the industry.”

Read more: The US’s first grid-scale sodium-ion battery is now online


The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

The new 2026 Lexus ES is an upgrade in just about every way [Video]

Published

on

By

The new 2026 Lexus ES is an upgrade in just about every way [Video]

Lexus claims the new ES “takes sedan styling, luxury, and refinement to a higher level” with a complete redesign. With the 2026 ES arriving soon, Lexus offered a closer look at the upgrades inside and out.

The new 2026 Lexus ES debuts in EV and hybrid forms

The eighth-gen ES is bringing more than a sharp new style. Lexus overhauled its flagship sedan from the ground up for the 2026 model year, which will include battery electric (BEV) and hybrid (HEV) powertrain options.

Inspired by the radical LF-ZC show car, the 2026 ES has been fully redesigned with what Lexus calls the “Experience Elegance and Electrified Sedan” concept, aimed at further refining the driving experience.

The new design centers on a redesigned “spindle body” that extends from the hood to the bumper. It also features a redesigned grille, replacing the signature Lexus spindle grille as the brand looks for a new identity in the electric era.

Advertisement – scroll for more content

Inside, the new 2026 ES features the latest version of the Lexus Interface multimedia system. The setup includes a 14″ touchscreen with wireless Apple CarPlay and Android Auto, and a 12.3″ driver display cluster.

new-2026-Lexus-ES-EV
The 2026 Lexus ES 350e (Source: Lexus)

Based on the redesigned TNGA GA-K platform, the new ES will be available in battery electric (BEV) and hybrid (HEV) powertrains for the first time.

The 2026 Lexus ES lineup consists of two models: the ES 350e, a front-wheel-drive (FWD) model, and the ES 500e, an all-wheel-drive (AWD) model.

2026-Lexus-ES-EV-interior
The 2026 Lexus ES 350e interior (Source: Lexus)

Lexus expects the ES 350e to have a driving range of 300 miles when fitted with 19″ wheels, while the ES 500e has an estimated driving range of 250 miles.

Both the ES 350e and 500e feature a built-in NACS port to recharge at Tesla Superchargers. Using DC fast charging, it can recharge from 10% to 80% in about 30 minutes under “ideal conditions,” according to Lexus.

With its debut just around the corner, Lexus offered a closer look at the new 2026 ES inside and out in a new video.

Lexus has yet to announce prices, but the redesigned ES is expected to start at about $45,000 to $50,000, or slightly more than the outgoing model.

After launching the upgraded RZ earlier this month, Lexus said the ES would be next. It’s expected to go on sale in Spring 2026.

What do you think of the redesigned 2026 ES? Do you like the new Lexus design? Let us know your thoughts in the comments below.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Tesla launches new Model Y+ with 510 miles (821 km) of range

Published

on

By

Tesla launches new Model Y+ with 510 miles (821 km) of range

Tesla has launched a new version of the Model Y in China, and it’s achieving an impressive new range rating – thanks to a new battery cell from South Korea’s LG.

The new variant, a five-seat, rear-wheel drive long-range model, has been released with an 821-km range based on China’s CLTC standard.

While the CLTC rating is known to be optimistic, 821 km (about 510 miles) is an impressive number and the longest range Tesla has offered in its Model Y lineup to date, which is going to help it be more competitive in the Chinese market.

This new extended range Model Y version is made possible by using the 78.4-kWh ternary lithium-ion battery pack from LG Energy Solution, the same pack found in the also recently launched 830-km range Model 3 variant.

Advertisement – scroll for more content

The new long-range RWD Model Y starts at RMB 288,500, which translates to just over $40,500 USD.

The launch comes at a critical time for Tesla in China, which has seen its sales slump in recent months. The automaker recorded its lowest monthly sales in October since November 2022, falling out of the top 10 list for new energy vehicle (NEV) sales.

That’s despite a continued surge in electric vehicle sales in China. Tesla is not benefiting from it amid strong competition.

According to local Chinese media reports, the new 821-km Model Y is already gaining traction with some anecdotal reports of enthusiasm at Tesla stores.

The reports are partly supported by Tesla quickly extending delivery timelines from 2-4 weeks to 4-6 weeks just hours after launch.

Electrek’s Take

I think this is going to be suitable for a decent short-term bump in demand, but it’s still on the expensive side for the Chinese market.

For example, now the Model Y beats the Xpeng G6’s max range of 755 km, but the G6 with this range costs 234,900 RMB (approximately $32,900 USD), which is significantly cheaper.

Every 10,000 RMB tranche lower means a lot more demand in China.

Tesla needs to launch its new “standard” versions to start making a difference with demand long term in China.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Trending