When former Toyota Chairman Akio Toyoda first stated that most consumers were not willing to buy only fully electric cars, Toyoda and his company were committed to doing enough to combat climate change. This was criticized by environmental activists for not doing so. At the time, Mr. Toyoda instead called for a “multi-path approach” that included gas/electric hybrid vehicles, saying “customers should make that decision, not regulations or politics.”
The wisdom of Mr. Toyoda's position has now been proven. Electric vehicle sales have slumped in recent months, prompting the Biden administration to overhaul regulations that pressure manufacturers to ramp up production of all-electric vehicles at the expense of other models. At the same time, buyers looking to reduce their carbon footprint are flocking to traditional gasoline/electric hybrids with longer ranges and newer generation plug-in hybrids that can cover reasonable distances on electricity alone before switching to conventional models. I am. Hybrid mode. Plug-in hybrids, also known as PHEVs, are popular with many buyers because they can be charged regularly and effectively function as an EV for everyday driving, while still being able to handle long journeys with stops at regular gas stations. The concerns about cruising range that have made people hesitant to go fully electric will be resolved.
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