After spending the past decade as the car industry’s loudest champions of hybrid vehicles, Toyota executives could be forgiven for feeling some measure of vindication.
The Japanese carmaker’s dogged determination to pour billions into hybrid vehicles that combine batteries with the traditional internal combustion engine drew criticism from investors and environmentalists alike.
Consumers would balk at buying more expensive fully electric cars, Toyota repeatedly warned. Now, as a combination of stubbornly high prices and concern over inadequate charging infrastructure chills enthusiasm for battery electric vehicles (BEVs) in markets from Europe to the US, what was once regarded as heresy from Toyota is being reassessed.
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