Hollis: New Toyota CEO Sato is ‘great’ choice for North America

In other comments, Hollis defended Toyota’s cautious approach to battery electric vehicles, reiterating the company’s carbon reduction strategy that continues to develop EVs while relying on easier-to-manufacture hybrid and plug-in hybrid drivetrains as more effective to the overall goal of reducing emissions. He contrasted that with other automakers who have gone all-in on EVs to the detriment of other potential solutions.

“Toyota is 100 percent committed to EVs, and hydrogen, and plug-in hybrid and hybrid. The goal is to reduce carbon emissions as fast as possible in any way possible. It’s not to sell EVs,” Hollis said, adding that the scarce minerals needed for battery manufacturing is a natural limiting factor, as is price. He said carbon reductions are more effective when more consumers contribute.

“If you just take lithium, I can build one $65,000 EV or seven $48,000 plug-in hybrids that produce seven times the [carbon emission] reduction,” Hollis said. “Or I can build 109 $30,000 Priuses and reduce the carbon emissions from more consumers even more.”