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Toyota’s CEO Says EV Adoption Will Take Longer Than Expected

  • Carmaker will continue to make hybrids, gas-powered models
  • Chief Toyoda says company to offer wide array of options
Akio Toyoda

Akio Toyoda

Photographer: Akio Kon/Bloomberg
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Toyota Motor Corp. plans to keep gas-powered cars as a key part of its lineup, rejecting efforts by rivals to go fully electric amid concerns over how quickly consumers will embrace new technologies.

While the world’s largest automaker will introduce more electric vehicles in the coming years, it will also offer a range of other options, including gasoline-electric hybrids, hydrogen- and traditional fossil fuel-powered models, according to Chief Executive Officer Akio Toyoda, who met with reporters Thursday.