Despite criticism from some investors and environmental groups, Toyota Motor CEO Akio Toyoda this past week doubled down on his strategy to continue investing in a range of electrified vehicles as opposed to competitors such as Volkswagen and General Motors, which have said they are going all-in on all-electric vehicles.
Toyota has no plans to overhaul its franchised dealership network as it invests in electrified vehicles, like some competitors have announced. Toyota’s goal is carbon neutrality by 2050, and not just through all-electric vehicles. Some have questioned the environmental impact of EVs when factoring in raw material mining and overall vehicle production.
As part of lighthearted and comedic comments to dealers, Toyoda said he actually did a little happy dance when the automaker outsold GM last year for the first time ever in the U.S.