Japan’s carmakers are keeping their foot on the accelerator when it comes to investing in electric vehicles.
Yes, EV sales growth is slowing, executives have said this earnings season. But this hasn’t come as a shock to manufacturers that largely have been content to let the rest of the world race to electrify before batteries are cheap and enough charging infrastructure is built.
In other words, Japan’s auto companies knew car buyers weren’t ready just yet to go electric as quickly as some hoped.