Critics continue to grill Toyota for lagging in EV development efforts despite being the world’s largest automaker. Instead of retaliating, the company has softened its stance against critics in a push for EVs.
Due to the mounting criticism, Toyota is quickly losing market value, which has become a concern for the automakers and its stakeholders.
A report from the Wall Street Journal suggests that the company is engaging with the critics to mitigate further deterioration of its environmental image. Although, it maintains that hybrid electric vehicles (HEVs) are a key-stepping stone in the path to EV normalization.
It states that the EV support infrastructure is still too weak to support the needs of the masses. The report adds, however, that the higher-ups including Akio Toyoda, are concerned about the company’s negative image due to its “perceived reluctance” to EV revolution.
Toyota has earmarked $28 billion for the expansion of its plants to manufacture EVs, which it will spend over the coming decade. Still, certain companies are still alleging that the Japanese carmaker is making efforts to discourage EV normalization.
The Danish fund AkademikerPension, which manages approximately $19 billion on behalf of academic institutions and school employees, has been in a dispute with Toyota for nearly two years over its “rebellion” against measures promoting EVs.
Greenpeace is also among the groups that have criticized the Japanese automaker for its sluggish pace in EV development. Although, the report claims that Toyota has been in talks with the latter group in an effort to revitalize its image before the environmental activist groups.
The company has also begun reserving seats for environment preservation groups at its EV-related events.
