Toyota Motor North America CEO Ted Ogawa expects battery electric vehicles (BEVs) to account for only approximately 30% of the U.S. new-vehicle market by 2030. This is half of the target currently set by the Environmental Protection Agency for 2030. Why It Matters: “We are respecting the regulation, but more important is customer demand,” Ogawa said in an interview with Automotive News. The company will adjust its strategy to align with consumer preferences, he said, even if it means purchasing credits to meet regulatory requirements. “Wasted investment is worse than the credit purchase,” he a…
