> Their battery technology is outdated and they invest almost nothing in BEV.
Isn't Toyota investing heavily in solid-state batteries?
Re:Tesla Q3 2021 Earnings
by ecpottinger on Wednesday October 20, 2021 @06:31PM
(#28937671)
And what information do you have on their progress.
And Tesla's income is growing fast so P/E is dropping at the same speed (the share price has remained stable since early 2021).
Compared to Tesla, Toyota is stagnating. Their battery technology is outdated and they invest almost nothing in BEV. They're still making a full bet on PHEV and hydrogen light vehicles. For now, Toyota simply cannot compete in BEV. They won't have the batteries and/or the materials (lithium / nickel), and every year they do nothing, Tesla, VW and others are securing multi year procurement deals.
Also, it would take years of great EV sales for Toyota to be able to outpace Tesla's battery purchasing power. And Tesla is making their own cells so they're not even playing the same game.