Why Toyota Is Intentionally "Falling Behind" On EVs

In the last few years, seemingly every car company has begun investing heavily in electric vehicles. Ford said it would “lead America’s shift to EVs.” GM said it would invest $35 billion into EVs by 2035. And Volkswagon is dropping $193 billion on battery research. But not Toyota. Instead of pouring billions of dollars into electric vehicles, the company has been doubling down on hybrids. Some people think they’re making a grave mistake. But Toyota says it’s been part of its plan all along.

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