Toyota recently became the most valuable car company for the third consecutive time this year, beating several major players in the market.
While boasting that promising accolade, the Japanese automaker has also been ranked among the world’s most obstructive companies to the climate policy of 2022.
The company has come in at the 10th spot on the list which is filled with major oil marketing companies (OMCs). It is also the only automaker to be included in the top 10.
This information came from InfluenceMap — a company that “provides data and analysis on how business and finance are affecting the climate crisis.”
InfluenceMap uses evidence-based data and assessments to determine how companies handle climate policy. The company advocates environmental protection and the formation of environmentally friendly policies on the part of large conglomerates.
Toyota has been vocal about its reluctance to move quickly with electric vehicle (EV) development and production. Its executives continue to insist that people do not want EVs and that Toyota makes up the environmental protection efforts by producing hybrid cars in big numbers.
Toyota has received heaps of criticism from automotive analysts, journalists, and environmental activists for its late adoption of EVs. The criticism also caused the company’s stock value to plummet in June 2022.
Also, the company is having to rework its electric vehicle (EV) development strategy as its production is reportedly too slow and expensive in comparison to other manufacturers.
Automotive experts state that Toyota seems destined for a bleak fate if it continues to resist EV adoption.
