[Telegraph] Battery-powered electric vehicles will only ever capture 30pc of global market share, the chairman of Toyota has predicted, raising concerns about consumers’ willingness to align with net zero goals.Akio Toyoda said that traditional fuel-burning cars, as well as hybrids and hydrogen fuel cell vehicles would make up the rest of the market.
The grandson of the founder of the world’s largest car manufacturer said shifting towards electric vehicles is not the answer when a billion people in the world are living without electricity.
He told a business event this month that limiting consumer choices and ability to travel by making expensive cars is not the answer.
He said: "Customers — not regulations or politics — should make that decision."
He added: "Engines will surely remain."
Toyota has, for decades, banged the drum for hydrogen power, pouring money and resources into fuelling its cars with the fuel cells.
It has lagged behind in battery technology for years, mistrusting lithium-ion chemistry and hoping the world would adopt its hybrid petrol-electric technology as an eco standard.
Electric vehicles are expected to secure 23.5pc of global market share by 2025, according to EVvolumes.com.