As a shareholder of Toyota, I would be incredibly frustrated and concerned about the company’s current trajectory.
I fully understand that many potential car buyers today may not be considering electric vehicles (EVs) due to the limited options available in the market. It’s a valid point, as the transition to electric mobility is still in its early stages, and traditional fossil fuel vehicles remain prevalent.
However, Akio Toyoda, as the President of a globally recognized automotive giant, must recognize the substantial threat that Tesla and other EV manufacturers pose to Toyota’s core business model and the company’s future. His dismissive attitude toward the rapidly accelerating shift towards electric vehicles is, quite frankly, inexcusable and short-sighted.
Additionally, Toyota’s significant investments in hydrogen fuel cell technology, while innovative, seem increasingly misguided. The reality is that hydrogen technology is unlikely to see widespread adoption in the near future, if at all, given the current advancements and consumer preferences leaning toward battery electric vehicles. This missed opportunity to fully embrace electric technology is a critical oversight that ultimately falls on Toyoda’s leadership.
As the automotive industry evolves, it is essential for leaders like Toyoda to adapt and pivot towards sustainable energy solutions that meet emerging consumer demands, or risk falling behind in an increasingly competitive market. The company needs to recalibrate its strategy to not only sustain its legacy but also to thrive in the future of mobility.
