Toyota is facing criticism for its slow adoption of battery electric vehicles (BEVs) despite the global trend towards electrification.
The company's resistance to California's ambitious electrification plans and its limited BEV offerings raise concerns about its long-term viability in the market.
In contrast, companies like BYD and Tesla are rapidly expanding their electric vehicle lineups and dominating the sector.
Toyota's reluctance to pivot towards electric vehicles could result in significant market share losses.
Furthermore, the company's historical strength in hybrid technology may not be enough to sustain its position as competitors continue to innovate in the BEV space.
Toyota must act urgently and develop competitive electric vehicles to avoid a crisis in the coming years.