Toyota Chairman Akio Toyoda used the company’s 2025 General Shareholders’ Meeting to reiterate that the global carmaker’s fight is against carbon – not internal combustion engines.
Responding to a question on all-solid-state batteries, Toyoda stood beside Executive Vice President Hiroki Nakajima and highlighted that the challenge of global warming must be tackled through action, not ideology.
“From the outset, we have focused on the fact that our enemy is carbon, and ‘doing what we can right now’,” said Toyoda.
The meeting was notable for drawing a record 6,752 attendees, and marked the first time over 6,000 shareholders were physically present. Toyoda used the opportunity to reinforce Toyota’s commitment to its long-standing “multi-pathway” strategy for decarbonisation, which includes hybrid electric vehicles (HEVs), plug-in hybrids (PHEVs), battery electric vehicles (BEVs), and hydrogen fuel cell electric vehicles (FCEVs).
“To date, we have sold a total of 27 million electric vehicles, mainly hybrids,” Toyoda said. “These 27 million vehicles have reduced CO2 emissions by the equivalent of 9 million battery EVs.”
For fleet buyers and policy makers focused on reducing transport emissions, Toyota’s position offers a pragmatic reminder: the goal is net carbon reduction, not allegiance to a specific drivetrain.
While Toyota has faced criticism from some environmental groups for being slow to commit to BEVs compared to rivals, Toyoda remained firm in his belief that multiple technologies are required to meet the world’s diverse energy and infrastructure needs.
“Looking around the world, each country has its own unique energy situation. Delivering ‘Mobility for All’ is about serving every country, every road. All of us, from our leadership down, are working hard to ensure that no one is left behind.”
This inclusive approach is underpinned by Toyota’s partnerships with its dealers, suppliers, equipment providers, and transport logistics. Toyoda praised this ecosystem of support as essential to maintaining vehicle availability and competitiveness globally.
The message to shareholders – and by extension to fleet buyers – was clear: Toyota is preparing for all eventualities, rather than betting on a single technological outcome.
“In these uncertain times, Toyota is not going to speculate,” said Toyoda. “Instead, we are teaming up with others to prepare for the future.”
This echoes remarks from a 2021 BEV strategy briefing where Toyoda stated, “Quickly adapting to changes is more important than trying to predict the future.”
When pressed on whether Toyota would ultimately commit to BEVs or continue pursuing multiple technologies, Toyoda said: “Once we identify market and customer trends, we swiftly follow them. We believe this boosts the company’s competitiveness, and above all, is the surest way for us to survive.”
For Fleet Managers balancing emissions targets, budgets, and operational constraints, Toyota’s multi-pathway approach could offer flexibility in future procurement. However, they must also weigh the long-term impact of legislative changes such as Australia’s New Vehicle Efficiency Standard (NVES), which may push OEMs to prioritise BEVs or PHEVs to avoid fines.
Toyota’s hybrid range has traditionally been favoured in government and corporate fleets for its reliability and fuel savings, and the company continues to invest in solid-state battery technology for future BEV models. But Toyoda’s remarks suggest that the company will not abandon internal combustion engines where they still make sense—particularly in markets without robust charging infrastructure.
In closing the shareholder address, Toyoda thanked attendees for their ongoing support and emphasised the importance of long-term thinking.
“As our shareholders, the long-term support you provide, and your backing for our genba efforts, is what enables us to be prepared and ready. We look forward to your continued support.”
For Fleet Managers seeking certainty in uncertain times, Toyota’s message may be less about picking winners and more about staying ready for anything.
