For the past several years, Toyota has been lagging behind other automotive brands in terms of battery electric vehicle (BEV) offerings. Electric cars have disrupted the global automotive industry with their phenomenal popularity growth, and according to Automotive News, EV enthusiasts, environmental activists, and investors have criticized Toyota for its lack of commitment towards BEV development. The Japanese automotive giant is still a powerhouse, proven by the fact that Toyota sold the most cars globally for the 3rd consecutive year in 2022. However, in terms of EV sales for 2022, Toyota floundered at 23rd place globally, even with its BEVs and plug-in hybrid EVs (PHEVs) combined.