When Toyota offers an opinion on the car market, it’s probably worth listening to. This week, Toyota reiterated an opinion it has offered before. That opinion is straightforward: The world is not yet ready to support a fully electric auto fleet.
Toyota’s head of energy and environmental research Robert Wimmer testified before the Senate this week, and said: “If we are to make dramatic progress in electrification, it will require overcoming tremendous challenges, including refueling infrastructure, battery availability, consumer acceptance, and affordability.”
Electrifying the auto fleet will require a massive overhaul of the power grid and an enormous increase in power generation. Elon Musk recently said we might need double the amount of power we’re currently generating if we go electric.
Thanks to the government, we won't see double the generation which means that electricity prices will go up a lot more soon.