Toyota adds electric vehicle development to their portfolio
While most auto manufacturers are betting on electrics as the future, Toyota believes that fuel cells are the answer. But fuel cells have a number of issues, with the biggest one being the lack of infrastructure. So it is surprising that Toyota announced yesterday that would be adding the development of electric vehicles to their green portfolio.
"We want to get ready to consider the future release of electric vehicles," said Toyota's Executive Vice President Takahiko Ijichi.
Ijichi said fuel cells are still the priority for the brand, but adding electrics is important as various markets have conditions surrounding energy and infrastructure. The Nikkei Asian Review says the company will start up an internal group focusing on the EV planning and development next year. Toyota will be accelerating development of various parts to play catch up with other automakers.
It is expected that the first Toyota EV will roll out in 2020.
Source: Nikkei Asian Review, 2
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