Citing massive losses and a cooling market, the Japanese auto giant is backing away from an all-electric future in a huge blow to the EV industry and a sign that the road to clean cars just got a lot bumpier.
Citing massive losses and a cooling market, the Japanese auto giant is backing away from an all-electric future in a huge blow to the EV industry and a sign that the road to clean cars just got a lot bumpier.
Japanese companies tend to either lead the way in terms of innovation or drag their heels.
In terms of cars, I think it’s just ignorance. They do a lot of sales in cheaper markets and to Americans, so that tints their thinking. Unfortunately, it’ll mean they’ll die out as it really looks like the likes of BYD and Xpeng are here to stay and since Japan are so determined to give up their spots, they’ll be taken.
That said, this might be what pushes them fully towards robotics.
Might also be due to very low pressure in their internal market. They have a very good public transit system, cars are not that impactful.