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Specifically, Toyota’s hybrid vehicle line-up will grow — the company plans to introduce a more powerful version in some hybrid models and also to develop simpler hybrid systems for select models, and to expand its plug-in hybrid vehicle selection.
“We are working on an entire portfolio of hybrids which we have been selling since 1997, plug-in hybrids, full battery electric vehicles as well as our fuel cell vehicles,” Bob Carter, executive vice president of sales for Toyota Motor North America. said in an interview with CNBC‘s Squawk Box. “Those vehicles represent about 9 percent of our sales in 2018. We have set a goal that it will be 15 percent of our sales next year in 2020,” he said.
EcoWatch reported yesterday that Toyota first “rolled out” its electric vehicle push a year ago, but has now stepped up its goals by focusing first on more on hybrid gas-electric vehicles rather than trying to compete with Tesla in the fully electric vehicle market.
EcoWatch cited Fred Lambert, the editor in chief of the electric vehicle blog Electrek, who argued that it is “dumb” for Toyota to not focus on a mass-market EV. Lambert wrote in his blog, “If the EV market is small right now, it’s not because people don’t want to buy EVs, it’s because the industry is not manufacturing enough attractive all-electric vehicles at a decent price.”
Why This Matters:As we pointed out in another ODP story today, vehicle emissions are rising in the U.S. again — which is very bad news. This announcement by Toyota shows that even though the Trump Administration is rolling back the clean car standards, the auto industry is going to move in the right direction. Increasingly, U.S. consumers want to wean themselves off conventional gasoline cars and the market will reflect that. What is needed is a full suite of electric options — more electric vehicles of all types, sizes, configurations and prices — and more companies like Toyota, Tesla and Volvo that are moving rapidly in that direction. The future is most definitely electric.
Numerous cities around the country are increasingly removing rather than building highways as a way to spur urban renewal. American cities, such as Portland, Oregon, Milwaukee, Wisconsin and Chattanooga, Tennessee have removed highways in recent years and others, such as Detroit, Michigan, Tampa, Florida and Baltimore, Maryland, are seriously considering it, according to The Wall Street Journal.
Why This Matters:In doing so, they are regaining prime real estate which is creating a boom in the development of downtown, pedestrian-friendly spaces and “knitting” neighborhoods back together again. And soon it may be possible to use federal highway “construction” funds to actually remove them.
The new year is just around the corner, and looking ahead, 2020 is going to be a doozy. But one thing we know everyone will be looking forward to is the summer Olympics, which begin on July 24th. They will be held in Tokyo and the organizers are promising, under the theme “Be better, together […]
A new study by the Economist magazine’s Intelligence Unit (EIU) finds not surprisingly that rich countries such as those in Europe and North America are more resilient to climate change, with less impact on their economies than other regions. The EIU used an index and found that the global economy will be 3% smaller in 2050 when analyzed against a new framework they developed, while the U.S. will be 1.1% smaller, according to CNN Business.
Why This Matters: The extent of preparation for climate change impacts is an important economic health indicator for banks, governments, companies, and other institutions as they make investments in those regions — not to mention the citizens of those regions when they consider the effectiveness of their governing institutions.