Toyota chairman warns EV-only future could lead to job losses

11 Oct 2024 CW Team

The chairman of Toyota Motor, Akio Toyoda, expressed concerns about the shift to an electric vehicle-only future, indicating it could result in job losses for individuals involved in engine-related technologies, particularly among the numerous suppliers in the sector. He noted that approximately 5.5 million people work in the automotive industry in Japan, with many having dedicated years to engine-related roles. Toyoda stated that if electric vehicles became the sole option, including for suppliers, those individuals would lose their jobs. He also mentioned his personal preference for gasoline vehicles.

As the world’s largest automaker by sales, Toyota has adopted a more cautious approach to electric vehicles compared to its competitors. This strategy has been beneficial, especially as global EV sales slow, allowing Toyota to capitalize on the demand for its growing hybrid lineup, particularly in the United States.

The company advocates for a "multi-pathway" strategy to achieve zero-carbon emissions, which encompasses electric vehicles, hybrids, hydrogen fuel-cell vehicles, and other powertrain technologies. Earlier in January, Toyoda projected that electric vehicles would account for a maximum of 30% of the global auto market, with hybrids, hydrogen fuel-cell, and fuel-burning vehicles comprising the remaining portion, although he did not provide a specific timeline for this forecast.

Toyoda made these remarks to reporters during the unveiling of a bust of his father, Shoichiro Toyoda, at Nagoya University in central Japan. The elder Toyoda, who passed away at the age of 97 last year, played a pivotal role in leading Toyota during the 1980s when the company transformed the global auto market, challenging Detroit's dominance. He also oversaw the introduction of the luxury Lexus brand and the Prius hybrid.

Infrastructure Urban

17 Sep 2025

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..