- Toyota has been reluctant to produce EVs due to high costs and concerns about lack of demand.Toyota CEO Akio Toyoda said the company plans to use a "conversion" strategy that involves transforming older cars into more sustainable models by replacing certain parts, the Associated Press reported.Speaking at an industry event on Friday, Toyoda — the grandson of company founder, Kiichiro Toyoda — said Toyota is looking into swapping sustainable technologies like fuel cells and electric motors into older cars in an effort to expedite an industry push toward electric vehicles.Instead, the company has sought out alternatives in the form of hybrid cars that run on a blend of gasoline and electric, and hydrogen-powered cars.According to Electrek, which tracks the development of electric-powered vehicles, Toyota has generated less than 1% of US sales from non-hybrid zero-emission vehicles and "has the least developed supply chain for reducing carbon emissions.""