This could make or break a company.
The war for the fuel of the future is currently being waged by automakers and government agencies all around the world. Tesla and many other automakers are banking on electricity to drive the wheels of cars in the near future, but it seems that Toyota has other plans. Contrary to Elon Musk’s beliefs, Toyota thinks electric cars do not have much of a future. Instead, the Japanese automaker is counting on gas/electric hybrids to make up a small portion of the market and hydrogen fuel cell vehicles (FCVs) to dominate the roads by 2050.
Toyota’s reasoning is that electric cars take too long to recharge and that once hydrogen takes off as a reliable fuel consumers will prefer it to battery power. Toyota faces major struggles if it wants to make a hydrogen revolution happen. The US Department of Energy says that there are only 12 hydrogen fuel stations in the U.S. while there are 10,976 electric charging stations, not including personal electrical outlets that EV owners could use as well. However, if a small automaker like Tesla can create its own formidable charging infrastructure, there is no telling what Toyota, one of the world’s largest automakers, could do when it flexes its muscles. The future of fuel is shaping up to be interesting.