Toyota announces major moves as battle for EV dominance heats up: 'Multi-pathway strategy'

Toyota is already making money hand over fist with its electric vehicles, and now it is expanding its market with new factories in Indonesia and Thailand, Electrek reported.

More and more, the global market is shifting to EVs. They're cheaper to fuel and maintain, quieter, they don't produce smog, and they're better for the environment.

While some drivers are concerned that the materials for EV batteries cause pollution during the mining process, it's actually much worse to mine for the much larger quantities of dirty fuels needed for gas-burning vehicles, so EVs come out ahead there, too.

Indonesia is one country where EVs are popular, and to encourage automakers to move there, the government has adopted new measures to make the country attractive to these companies. It has dropped the value-added tax to only 1% for cars produced at least 40% in the country, rather than the usual 11%. Plus, producing cars locally helps companies avoid import tariffs, which were just implemented last year.

Not only will this move help Toyota maintain its 30% share of the market against expanding Chinese rivals, it will also support Toyota Indonesia's exports, which currently reach over 80 other countries.

According to Hiroyuki Ueda, president director of Toyota-Astra Motor, as quoted by Electrek, producing electric vehicles in these new countries is all part of Toyota's "multi-pathway strategy."

The additional expansion to Indonesia is the cherry on top.

If you need to charge an EV, doing it with solar power is the most inexpensive and eco-friendly way. To install solar in your home, you can use EnergySage to get started. Its free online marketplace will help you find installers local to you and compare quotes to get the best deal for your situation. The average homeowner can save up to $10,000 using this method.

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