Konoyama Manabu, President of Toyota Korea: "Electric Vehicle Market Immature, PHEV Has Opportunity"

*This content was translated by AI.

On the 16th, at the launch event for the Toyota RAV4 in Incheon, Konoyama Manabu, President of Toyota Korea, expressed his views on the electric vehicle market.

In response to a reporter's question, "Can PHEV succeed in the SUV market, where HEV still dominates?" he said, "Although the phase-out period has ended and BEV sales have increased overall, we do not believe the market has matured. We agree that the phase-out period is over. However, some people find it easy to charge electric vehicles, while others do not. Currently, we believe a multi-pathway approach is still the most appropriate, rather than relying solely on HEV, BEV, or PHEV."

Konoyama Ma Na-bu (President)'s remarks are based on Toyota's multi-pathway strategy. In the case of the new Toyota RAV4, the company is not only implementing various trim strategies but also diversifying its powertrains, with PHEV being one of the key trims. However, PHEV is still not considered mainstream compared to HEV. According to Konoyama Ma Na-bu (President), "PHEV holds greater value for consumers who have concerns about BEVs. Since PHEV can travel 77 kilometers, it enables an electric vehicle lifestyle for those who do not travel far outside, making it marketable. PHEV has been sold before, and it accounted for about 30% of sales. In the case of the new RAV4, approximately 30% of the contracts received are for PHEV. We expect this figure to rise further after test drives. So far, the response to PHEV has been positive."

Konoyama Ma Na-bu (President) also took a cautious stance regarding Tesla's record sales in Korea, stating, "This is limited to that specific vehicle (Tesla Model Y), so it is too early to judge it as a reflection of the overall market situation." He further added that PHEV has ample opportunity, acknowledging the convenience of electric vehicles but noting that the RAV4 PHEV is suitable for consumers who have concerns about using them for various reasons.

Meanwhile, the Toyota RAV4 launched by Toyota on the 16th is equipped with both HEV and PHEV lineups, positioning it as a fully-fledged electrified SUV. Additionally, the Toyota RAV4 features software developed in collaboration with LG U+, offering the advantage of accessing diverse content such as Toyota TV.

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*This content was translated by AI.