Back in 2010, if you wanted to be seen as an eco-conscious consumer who was on the cutting edge of forward-thinking tech, you drove a Toyota Prius. Heck, even George Clooney drove one to the Oscars – and Clooney is cooler than you (or me, anyway). The Prius was such a hot seller that Toyota reportedly looked into the possibility of spinning it off into its own brand.
That, as they say, was then. Today, Toyota has fallen significantly behind market leader Tesla in the race to bring EVs to the mainstream. There are many reasons for that, of course – but big bets on stillborn hydrogen fuel cell technology and more than a little bit of overconfidence in the size of its market lead certainly played a part.
It didn’t have to be that way – and, in fact, Tesla’s trillion-dollar story could have gone very, very differently for Toyota. All they needed was a little bit of money, and a lot of cynicism.
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