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Toyota’s chairman suggests waning demand is a sign electric cars are being over hyped

David Berthon

Interesting comments last week by the Chairman of Toyota Akio Toyoda who
suggested waning demand for electric vehicles is a sign they’ve been overhyped.
Mr Toyoda, a long-time critic of the rapid adoption of EVs suggested there are
many ways to climb the mountain to carbon neutrality. His remarks follow a
worldwide slowing of electric car growth with several companies now scaling
back R and D and production targets – I spoke of Ford’s cutback last week,
General Motors is the same, scrapping a $5 billion dollar plan to develop EV’s
with Honda. In Australia, demand has also softened, many importers now have
abundant stock of electric cars and prices are falling – lower demand has also
seen MG drop the price of its ZS EV for the second time in four months, also
stepping away from national drive-away pricing.

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David Berthon
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