Toyota’s chairman forecasts EV market share will peak at just 30%

Akio Toyoda, chairman of Toyota, speaks at the Tokyo Auto Salon on Jan. 13, 2023. Jun Sato—Getty Images

Akio Toyoda, Toyota Motor’s chairman, has never been a huge fan of battery electric vehicles. Last October, as global sales of EVs started to slow down amid macroeconomic uncertainty, Toyoda crowed that people are “finally seeing reality” on EVs. Now, the auto executive is doubling down on his bearish forecast, boldly predicting that…

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