Quote:
Originally Posted by Spuds
Yeah, I think EVs are going to reach a plateau in demand earlier than a lot of people are expecting.
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The recently retired Toyota CEO Jim Lentz in 2020 predicted that EV's and HEV's will at best represent 5% share by 2030 based on natural demand discounting artificial mandates.
Based on April 2021 North American sales, he underestimated demand. Toyota was the first auto manufacturer in history to sell 1,000,000+ plus vehicles in a month, led by a surge in HEV sales up almost 300% fueled (!) by incentives and skyrocketing gas prices.
The downside is that there's another historic marker. Dealer and port stock combined is down to an unheard of nine days supply. This is a good time to sell your used car.
They'll recover and today Toyota announced that they'll be making their own chips starting later this year with the 2022 Tundra with an HEV model available.
I think the turning point in EV's will happen with the rollout of solid state batteries we'll soon see with the Panasonic/Toyota JV.