Toyota says it would rather buy credits than ‘waste’ money on EVs
Toyota says it would rather buy credits than ‘waste’ money on EVs
As the car industry’s largest hybrid pusher, Toyota says it is better positioned to just buy credits to close the EPA gap rather than “waste” money on BEVs, its CEO said.
Toyota already admits that they are behind on their battery technology, despite having decades of opportunities to improve and innovate with their hybrid models.
Now they want to double down on their atrophy by effectively throwing their money away instead of investing in the future?
On the surface, this does not sound like a good plan for long term growth and profitability.
So, I understand what Toyota is saying. I'm not sure I agree, but I get it.
Simply put, until we figure out a good solution to the battery problem, EVs are kind of at a dead end. They are about as good as they could be with current technology. There's a big push right now towards better energy storage tech, aka battery tech, for EVs and beyond (everything from cellular/mobile/device applications, to EVs, to "grid scale" storage).
The problem is basically twofold: first, limited energy storage. This is compounded by fairly slow charging... Second, current lithium tech used in EVs tends to be rather.... Flammable. Specifically, the most common chemistries are pyrophoric; aka, they burst into flames on contact with air. .... I'll emphasize that pyrophoric battery chemistries are commonly used in just about all consumer goods. This includes every Tesla, and every cellphone.
The only reason that your phone doesn't spontaneously combust in your hand is because the batteries are sealed so no air can get at the chemistry. The issue with Tesla's EVs is when one cell's seal fails, and it combusts, then the chances that adjacent cells will have their air seal compromised, dramatically increases. This can quickly lead to a chain reaction of failures.
Current research is ongoing into batteries. The golden battery for EVs will have, fast charging, high discharge capability (also known as the "C rate"), similar or better energy density to current cells, and longer charge/discharge cycle life. Since we're already comfortable giving pyrophoric batteries to the general public to carry around in their pockets, I don't think anyone is focused on eliminating that, but, if they can, while achieving the other goals, so much the better.
Other battery chemistries exist that are not pyrophoric, but they lack the energy density of their pyrophoric counterparts. One notable chemistry is LiFePO4, which, by sacrificing some energy density, you get much longer cycle life, and no pyrophoric materials.
Solid state batteries are being researched which should extend cycle life significantly if it can be achieved as a "commercially viable product" (which is corporate talk for something that can be mass produced). Thus far, while sold state batteries exist, they're either done in very small batches, and are very hard to produce, or, they simply don't have the same, or similar, energy density to the lithium/cobalt cells that currently dominate the market.
One alternative is hydrogen. Hydrogen fuel cell technology isn't perfect, with a loss of about 20-30% IIRC, from the energy in vs the energy out. The benefit to hydrogen is that it can be stored, highly compressed (a large volume of gas in a relatively small container), and it doesn't degrade or go bad, so it can be stored indefinitely, aka no significant loss over time. But hydrogen is a far more dangerous material than lithium/cobalt, and a tank rupture from a full tank of hydrogen in an EV, could create an explosion of significant size. It's far more dangerous than the pyrophoric batteries. For more information, see: Hindenburg.
Other alternatives exist, but generally are not being used in EVs for various reasons. Among these are RITEGs. An RITEG outputs a consistent and stable power flow indefinitely, even a relatively small unit could be used to power a vehicle, with a small buffer battery, for upwards of 40 years without needing to "refuel" so to speak. Possibly longer depending on the fuel used. The reason they're not considered is right in the name. The full name for an RITEG is "radio isotope thermal electric generator". Aka, nuclear. The unique thing about an RITEG is that the power output is dependent on the differential between the heating provided by the fuel, versus the temperature of the surrounding material (usually some sort of passive heatsink). They're very safe unless the seal is broken, in which case, you need Hazmat to clean up the mess. Their energy conversion is very very low. The power is stable, but only a small amount of wattage can be generated. It's constant, but it's a small amount. So the presence of a "buffer" battery for acceleration (and most driving) would be required, and often you can get more power from a small solar array, dependent on the weather. I like the idea of RITEGs, but more as a home generator type option, where you could bury one into the ground and dissipate the heat geothermally. No options exist for this and research into thermal electric tech has been stalled for many years. Nevertheless, I think it's awesome. The idea of having a mostly solid-state, base load generator in your back yard, seems like a really good idea, but nobody has done it, since IMO, the regulations would be a nightmare.
Anyways, the battery problem outlined here is what we're all waiting for... A commercially viable product that is on par with the current battery front runner, lithium/cobalt, for energy density, while having a much higher cycle life and a high "C rate".
JFC we need a carbon tax. All these posts claiming ICE is better than EV lol. Burning fossil fuels kills 250,000 people a year in the US alone. It’s a 25% efficient process. ICE engine has 2000 moving parts while EV has 20. ICE is 20x most likely to have a car fire than EV and far more deadly. This list goes on and on.
That's funny because I'd rather spend my credits on something other than a Toyota.
Corporate “indulgences”
Carbon credits are an absolute scam but EVs are also not going to get mass adoption and aren't going to replace ICE cars until used EVs are a thing without needing to replace the battery for the price of a whole car. So I can see why Toyota wouldn't be too interested in EVs, the tech for them isn't there for global adoption and is still a niche market.
Aside from hybrids, Toyota has also put a lot of work into hydrogen cars. Those have some real benefits -- range, fast fueling time, running the heater is "free", like in a gasoline vehicle and doesn't hurt range, don't have range reduction in cold environments -- but they're more-expensive to fuel than a pure EV, because you've got the overhead of conversion from electricity to hydrogen.
I don't think that the EV user experience is as good as the hybrid gasoline/electric experience or the hydrogen user experience, but I also don't think that hybrids are gonna be able to achieve enough carbon reduction. Like, if we had figured out a really good, cost-effective way to do carbon sequestration, that'd be one thing. But that isn't the case in 2024.
And if it comes down to hydrogen or EVs, I think that ultimately, the lower fueling costs of EVs will dominate.
Toyota plays the long game. I'd assume they've done the math on this and it should be taken seriously. They've been making hybrids for years and know all the issues. It is not scalable with our current tech, consumption level, the way we treat everything as disposable and resources. People buying EVs and using them relentlessly are figuring this out the hard way already when they need a new pack and it costs as much as a used ICB car.
This deliberately misguiding title is as myopic as the news talking about Bitcoin "crashes".
Ten years ago, the EV auto market share was under 1% and Bitcoin was worth 320 bucks.
Ten years later, 10% of cars are EVs, 30% of the car market will be pure EVs, more will be hybrids, bitcoin is worth 62,000 dollars.
2024 headlines: Bitcoin crashes again and Toyota won't waste money on EVs.