Toyota doesn’t see opportunity for an all-electric car

Toyota’s future lies in hybrids and hydrogen fuel cell vehicles, rather than all-electric cars like Tesla’s Model S. The company’s chairman, Takeshi Uchiyamada, spoke frankly on the near-term future of cars in a speech on Monday, noting that electric vehicles require breakthroughs in battery technology to become a viable replacement for traditional cars.

The Wall Street Journal quotes Uchiyamada saying “the reason why Toyota doesn’t introduce any major [all-electric product] is because we do not believe there is a market to accept it.”

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