Toyota's Chairman, Takeshi Uchiyamada suggested that the company's view is that substantial advances in battery technology needed to be made if electric cars are to represent a practicable alternative to cars powered by conventional internal combustion engines or hybrids utilizing batteries that can be charge while being used
'Toyota's chairman just doesn't see the company having an all-electric future. Unlike the likes of Renault-Nissan, Volkswagen and GM, Toyota has eschewed an all-electric car as it believes they are best left to specialist niche manufacturers,' said a Capital Eurasia auto sector analyst said.
'Clearly, Toyota must see some degree of potential in the all-electric market since they hold a 2.5% stake in Tesla Motors that doesn't mean they're going to field a contender,' he continued
The Japanese automaker is shunning the all-electric market regardless of the fact that most major car-makers are planning to field at least one contender in a bid to establish a foothold in the market.
'Whichever way you look at it, Toyota is very well-placed to enter the market if advances in battery technology emerge given its invaluable experience with hybrid vehicles like the best-selling Prius model which continues to enjoy popularity all over the world,' concluded the Capital Eurasia analyst.
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