The CEO of Toyota was skewered recently when he expressed serious criticism about the auto industry’s headlong rush into electric vehicles (EVs) by saying, “We shouldn’t limit ourselves to just one option.” This segment of What’s Ahead explains why he’s right.
Contrary to vociferous assertions, EVs are no friends of the environment. A typical 1,000-pound EV battery, for instance, entails the mining and processing of 500,000 pounds of earth. Renewables require monstrous amounts of new mining.
Cold weather severely curtails or even eliminates EV battery performance. The increased electricity to charge all these vehicles will seriously stress an already shaky electrical grid. Moreover, an inconvenient truth is that most people don’t want EVs.
Electric vehicles are part of the future, but they are manifestly not the future.
Steve Forbes is Chairman and Editor-in-Chief of Forbes Media. Steve’s newest project is the podcast “What’s Ahead,” where he engages the world’s top newsmakers, politicians and pioneers
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