LAS VEGAS — Toyota Motor CEO Akio Toyoda final week merely acknowledged what he would love his legacy to be: “I really like automobiles.”

Simply how the 66-year-old racer, automobile fanatic and firm scion will probably be remembered relating to his strategy to all-electric autos in comparison with gas-powered efficiency automobiles, just like the Supra, or hybrids, just like the once-groundbreaking Prius, will play out within the years to return.

Toyota, the world’s largest automaker, plans to take a position $70 billion in electrified autos over the subsequent 9 years. Half of that will probably be for all-electric battery ones. Whereas it is a substantial funding in EVs, it is smaller than some rivals’ plans, and never as a lot as some would love given Toyota’s world footprint.

Regardless of criticism from some traders and environmental teams, Toyoda this previous week doubled down on his technique to proceed investing in a spread of electrified autos versus rivals resembling Volkswagen and Common Motors, which have mentioned they’re going all-in on all-electric autos.

The plans might arguably cement Toyoda’s “I really like automobiles” legacy or tarnish it, relying on how shortly drivers undertake electrical autos.

“For me, taking part in to win additionally means doing issues in another way. Doing issues that others might query, however that we imagine will put us within the winner’s circle the longest,” he mentioned Wednesday throughout Toyota’s annual vendor assembly in Las Vegas, which, by the best way, was known as “Enjoying to Win.”

Toyoda, who described Toyota as a big division retailer, mentioned the corporate’s purpose “stays the identical, pleasing the widest attainable vary of shoppers with the widest attainable vary of powertrains.” These powertrains will embody hybrids and plug-in hybrids just like the Prius, hydrogen gasoline cell autos just like the Mirai and 15 all-electric battery fashions by 2025.

Other than the EV plans, Toyoda mentioned a number of different points of the corporate’s enterprise final week throughout the vendor assembly and a small roundtable with U.S. media.

Toyoda reiterated that he doesn’t imagine all-electric autos will probably be adopted as shortly as coverage regulators and rivals assume, attributable to quite a lot of causes. He cited lack of infrastructure, pricing and the way prospects’ decisions fluctuate area to area as examples of attainable roadblocks.

He believes will probably be “tough” to meet latest laws that decision for banning conventional autos with inner combustion engines by 2035, like California and New York have mentioned they may undertake.

“Similar to the absolutely autonomous automobiles that we’re all speculated to be driving by now, EVs are simply going to take longer to turn out to be mainstream than media would love us to imagine,” Toyoda mentioned in a recording of the remarks to sellers proven to reporters. “Within the meantime, you’ve got many choices for patrons.”

Toyoda additionally believes there will probably be “large shortages” of lithium and battery grade nickel within the subsequent 5 to 10 years, resulting in manufacturing and provide chain issues.

Toyota’s purpose is carbon neutrality by 2050, and never simply by means of all-electric autos. Some have questioned the environmental impression of EVs when factoring in uncooked materials mining and total automobile manufacturing.

Because the Prius launched in 1997, Toyota says it has bought greater than 20 million electrified autos worldwide. The corporate says these gross sales have averted 160 million tons of CO2 emissions, which is the equal to the impression of 5.5 million all-electric battery autos.

“Toyota can produce eight 40-mile plug-in hybrids for each one 320-mile battery electrical automobile and save as much as eight occasions the carbon emitted into the ambiance,” in line with ready remarks for Toyoda offered to media.

Toyota’s hesitancy to launch all-electric autos has been criticized by environmental teams such because the Sierra Membership and Greenpeace, which ranked the Japanese automaker on the backside of its auto-industry decarbonization rankings the previous two years.

Toyota has no plans to overtake its franchised dealership community because it invests in electrified autos, like some rivals have introduced.

“I do know you might be anxious concerning the future. I do know you might be nervous about how this enterprise will change. Whereas I am unable to predict the long run, I can promise you this: You, me, us, this enterprise, this franchised mannequin just isn’t going wherever. It is staying simply as it’s,” he informed sellers to resounding applause.

The franchised vendor mannequin has been below stress after Tesla and newer EV startups started promoting on to shoppers than moderately by means of conventional sellers.

GM has provided buyouts to Buick and Cadillac sellers that do not wish to spend money on EVs, whereas Ford final month introduced sellers that wish to promote EVs should turn out to be licensed below certainly one of two applications — with investments of $500,000 or $1.2 million. 

As a part of lighthearted and comedic feedback to sellers, Toyoda mentioned he danced when the automaker outsold GM final yr for the primary time ever within the U.S.

Regardless of Toyota executives saying the accomplishment wasn’t sustainable — GM led by means of the primary half of this yr — Toyoda nonetheless felt it was trigger for celebration.

“At Toyota, we wish to maintain our head down and never discuss our success,” Toyoda mentioned earlier than reenacting the dance on stage. “However once I heard you turned No. 1 within the U.S. final yr, I really did a bit pleased dance in my workplace.”